The Montgomery County Council will consider a local bill to establish a Revenue Estimating Group, which would be responsible for providing the County with accurate and up-to-date revenue projections. According to the bill’s lead sponsor, Council Member Andrew Friedson, this bill is “a best practice to build consensus and improve fiscal management.”
The Group would consist of staff members from Finance, Office of Management and Budget, Council Central Staff, Office of Legislative Oversight, and the Office of the Chief Administrative Officer. The Group would be required to report their revenue projections to the Executive and the Council quarterly. The bill is based on a similar group formed to provide revenue forecasts for the State, the Consensus Revenue Monitoring and Forecasting Group.