FY2025 Proposed Operating and Capital Budgets

FY2025 Proposed Budget Organizational Budgets

Division of Finance

Division of Finance The Division of Finance, under the direction of the Finance Director, is composed of Finance Administration and the departments of Accounting, Treasury and Debt & 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 resolutions. Finance Administration is responsible for the development of the County’s fiscal policies, as well as the integration of finance-related information systems throughout County Government.

The Finance Director serves as a committee member in the administration and management of the County’s Pension, Deferred Compensation Plan, Other Post-Employment Benefits (OPEB) and Length of Service Awards Program (LOSAP) trusts. Debt & Benefit Trust Management Department The Debt & 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 financing documents, including the County’s Annual Financial Disclosur e Statement; ensuring strict compliance with 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 management of the benefit trust assets, including the Employee’s Retirement Plan Trust, the Uniformed Employee’s Retirement Plan Trust, Other Post Employment Benefit (OPEB) Trust and Length 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, operating investment portfolios and an investor relations website.

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