Frederick Earns Three AAA Bond Ratings

Today, Frederick County Executive Jan Gardner announced that the three major bond rating agencies reaffirmed the County’s AAA bond rating. The ratings -- issued by Fitch, Moody’s, and Standard & Poor’s -- keep borrowing costs low for capital projects and reflect the County’s sound fiscal policies, prudent long-range planning, and robust economy. In addition, the County plans to refinance old bonds at a lower rate, which will save an estimated $500,000. https://twitter.com/JanGardnerExec/status/1433505587073978377 “Frederick County can…

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MDOT Releases Draft Six-Year Capital Budget, HUR “Cliff Effect” Looms

This week, the Maryland Department of Transportation (MDOT) released its Draft FY 2022 – FY 2027 Consolidated Transportation Program (CTP), which details MDOT's $16.4 billion six-year capital budget. The Draft CTP reflects a $1.2 billion increase compared to the $15.2 billion Final FY 2021 – FY 2026 CTP released in January. The largest drivers of the revenue increase in the Draft CTP include COVID relief funds totaling $841 million and revenue growth totaling $488 million.…

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#MACoCon Forum: American Rescue Plan Put to Action

From setting both short- and long-term priorities, to building infrastructure, to developing and sustaining projects, the American Rescue Plan Act (ARPA) presents an unprecedented opportunity for Maryland’s 24 counties to strengthen their communities. As counties determine how to invest ARPA State and Local Fiscal Recovery Funds to foster a swift and equitable recovery from the COVID-19 pandemic, they must navigate complex requirements and reporting deadlines, as well as ensure that today's investments are sustainable in the…

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State Releases ARPA Recovery Plan Performance Report

Governor Larry Hogan today announced that the State submitted its first American Rescue Plan Act (ARPA) recovery plan performance report, as is required by the U.S. Department of the Treasury in accordance with provisions of the unprecedented federal relief package, which directed $3.7 billion in federal aid to Maryland. As previously reported on Conduit Street, in April, Governor Hogan, House Speaker Adrienne Jones, and Senate President Bill Ferguson announced a bipartisan agreement to allocate ARPA…

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#MACoCon Recap: Dollars and Sense — Budgeting in a Post-COVID World

A panel of state and local fiscal leaders shared best practices for navigating an influx of federal recovery funds and tips for building resiliency for uncertain times ahead. From setting both short- and long-term priorities, to building infrastructure, to developing and sustaining projects, the American Rescue Plan Act (ARPA) presents an unprecedented opportunity for Maryland's 24 counties to strengthen their communities. As counties determine how to invest ARPA State and Local Fiscal Recovery Funds to…

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As Submission Deadline Looms, Treasury Rolls Out Video Walkthrough of ARPA Reporting Portal

The U.S. Department of the Treasury released a step-by-step video walkthrough of the Treasury Portal for the Interim Report and the Recovery Plan Performance Report, which counties must submit by August 31, 2021. The National Association of Counties (NACo) is hosting the full video on its website, as well as individual clips: Webinar Overview Reporting Basics Navigation and Logistics Interim Report Recovery Plan Performance Report FAQs and Key Terminology The Coronavirus State and Local Fiscal Recovery…

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Cecil County Maintains AA+ and Aa2 Bond Ratings

Today, Standard & Poor's Global Rating Services (S&P) and Moody’s Investors Service assigned AA+ rating and Aa2 rating to Cecil County’s 2021 series of general obligation bonds, deeming its fiscal outlook as stable. The ratings keep borrowing costs low for capital projects and reflect the County’s sound fiscal policies, prudent long-range planning, and robust economy. The rating agencies emphasized Cecil County’s growing economy, sound financial position, and strong management practices. Standard & Poor's rating stated: We view…

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Best Practice County Financial Management Serves Everyone

As the pandemic continues to shape county budgets and fiscal health, it is more important than ever for counties to implement strong budgeting procedures.  At the 2021 MACo Summer Conference Academy Core session, “County Financial Management,” attendees learned about the budgeting process, funding sources, important financial terms, and considerations to keep in mind when managing their county’s budget. The session was taught by Carroll County Director of Management & Budget Ted Zaleski and moderated by Prince George's…

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Baltimore County Awards Almost $2.5M in Grants to Community Partners
(courtesy of Baltimore County Government)
Baltimore County Awards Almost $2.5M in Grants to Community Partners

Baltimore County Executive Johnny Olszewski announced grant awards totaling almost $2.5M to nearly 60 local organizations assisting in COVID recovery. Recently, Baltimore County in partnership with the Baltimore Community Foundation (BCF) awarded $2.47M to over 50 community-based organizations with a focus on COVID recovery and enhancing neighborhood resiliency. Baltimore County’s portion of the funding comes from Maryland Recovery Now, a state-wide program enacted in response to the pandemic and aimed at helping critical non-profit actors…

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