FY2023 Adopted Operating and Capital Budget

FY2023 Adopted Budget Organizational Budgets

Finance Division

Finance Division The Finance Division, under the direction of the Finance Director, is composed of Finance Administration and the departments of Accounting, Treasury and Debt and Benefit Trust Management. The Finance Director, appointed by the County Executive, is responsible for the preparation of the County's annual comprehensive financial report. The Finance Director also acts as a financial advisor to the Executive. Finance Administration Finance Administration provides guidance and support to the Accounting, Treasury, and Debt and Benefit Trust Management departments. This office provides financial support and information to the County Executive and is responsible for providing the County Council with fiscal impact notes and financial information on proposed legislation and UHVROXWLRQV )LQDQFH $GPLQLVWUDWLRQ LV UHVSRQVLEOH IRU WKH GHYHORSPHQW RI WKH &RXQW\¶V fiscal policies, as well as the integration of finance-related information systems throughout County Government.

7KH )LQDQFH 'LUHFWRU VHUYHV DV D FRPPLWWHH PHPEHU LQ WKH DGPLQLVWUDWLRQ DQG PDQDJHPHQW RI WKH &RXQW\¶V 3HQVLRQ Defined Contribution Plan, Other Post-Employment Benefits (OPEB) and Length of Service Awards Program (LOSAP) trusts. Debt and Benefit Trust Management Department The Debt and Benefit Trust Management Department is responsible for managing the timely and economic issuance of long-term financial obligations; developing and maintaining strong rating agency relations; preparing accurate and timely ILQDQFLQJ GRFXPHQWV LQFOXGLQJ WKH &RXQW\¶V $QQXDO )LQDQFLDO 'LVFORVXUH 6WDWHPHQW HQVXULQJ VWULFW FRPSOLDQFH ZLWK disclosure requirements; and coordinating bond counsel review. Administration also plays an integral role in the formation, monitoring and payment processing of Tax Incremental Financing (TIF) and Community Development Authority (CDA) conduit debt financing. This department is also responsible for the man DJHPHQW RI WKH EHQHILW WUXVW DVVHWV LQFOXGLQJ WKH (PSOR\HH¶V 5HWLUHPHQW 3ODQ 7UXVW WKH 8QLIRUPHG (PSOR\HH¶V 5HWLUHPHQW 3ODQ 7UXVW 2WKHU 3RVW (PSOR\PHQW %HQHILW 23(% 7UXVW DQG /HQJWK of Service Award Program (LOSAP) Trust. Services provided include contract administration with external consultants, cash flow monitoring, participation in committee meetings, plan document reviews, as well as management of the trust assets. Management of these areas includes budget preparation, financial policy review and preparation, accounting and financial reporting for each of the Trust Funds and the Debt Service Fund. Independent software systems are maintained for the debt portfolio and an investor relations website.

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