On Thursday, December 8 at 2 pm at MACo’s Winter Conference, “An Ounce of Prevention,” county officials focused on how to fiscally prepare for those unfortunate rainy days at the conference session, “Budgeting for Bust or Boom.”
County financial experts shared how they incorporate sound financial management
practices to shore up reserves, budget conservatively and long-term, and prep for whatever rain tomorrow may bring. Ted Zaleski, Budget Director of Carroll County and Mira Green, Budget Analyst, City of Baltimore shared just two of many tools county experts deploy to ensure prudent financial planning: long-term/multi-year planning and programming for operating budgets, and setting reserve targets by appropriately analyzing risk.
Mira Green stressed that setting reserve targets by analyzing risk appropriately tailor reserves to a county’s unique concerns and challenges. Ted Zaleski emphasized that multi-year operating budgeting “will change your life” – or, at least, give county officials an opportunity to address known future challenges and liabilities in a prudent manner.
Attendees included county executives, county administrators, commissioners and budget directors. They asked questions about processes for approvals of plans and for tapping into reserve funds, the degree to which elected officials alter staff recommendations, and more.
The session was moderated by the Honorable Mike McKay of the Maryland House of Delegates.