Where Do We Fit On the State/Local Balance Sheet?

An annual "Balance Sheet" report from the Department of Legislative Services shows the net effects of state revenues and state aid, by jurisdiction. The Balance Sheet is an annual report, derived from the most recent audited data, assessing the revenue contributions and local aid distributions for each Maryland jurisdiction. While no single measure can fully capture these fiscal matters perfectly, this report is frequently employed to gather a relative sense of these intergovernmental finance issues…

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Breaking Down the Blueprint: School Funding in Focus

Obviously, The Commission on Innovation and Excellence in Education (Kirwan Commission) is a big deal right now. With recommendations from the Funding Formula Workgroup finalized and the full Commission's last scheduled meeting creeping up later this month, there is no better time to join MACo's Winter Conference Session, Breaking Down the Blueprint: School Funding in Focus during #MACoCon. Join our panelists in deep diving into exactly what this whole Commission is about and what it…

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Charles Retains Three AAA Bond Ratings

Charles County last week announced that the three major bond rating agencies have reaffirmed the County's AAA bond rating. The ratings from Fitch, Moody’s, and Standard & Poor’s reflect the County’s strong financial position and economic stability. “This achievement demonstrates the Board of Commissioners is delivering on its commitment to prudent financial management, which earns not only the confidence of the bond market, but of our citizens,” said Commissioner President Reuben B. Collins, ll, Esq. The…

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Perfect Storm for County Budgets… Revisited at #MACoCon

A storm is brewing. Rising costs, sluggish growth, unfunded mandates, and greater demand for services all signal turbulent times ahead for county government budgets. At the 2019 MACo Summer Conference, a panel of state and local fiscal leaders discussed several factors pointing to turbulent times ahead for county government budgets. Now — with new economic data and a better understanding of the Kirwan Commission's plan to fund its ambitious, multi-billion-dollar overhaul of Maryland's education system…

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Wicomico Receives Open Space Grants for Athletic Complex, Parks Projects
Nick Youngson CC BY-SA 3.0 Alpha Stock Images
Wicomico Receives Open Space Grants for Athletic Complex, Parks Projects

Wicomico County recently received grant funding through the Maryland Department of Natural Resources’ Program Open Space for projects at the Henry S. Parker Athletic Complex and Schumaker Park. Program Open Space provides financial and technical assistance to local subdivisions for the planning, acquisition, and/or development of recreation land or open space areas. According to a press release: The Henry S. Parker Athletic Complex received a $495,000 grant. Approximately $300,000 will go towards the development of…

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GFOA Webinar: Financial Foundations for Thriving Communities

The Government Finance Officers Association (GFOA) will host the "Financial Foundations for Thriving Communities: Putting It All Together" webinar on Thursday, October 24th, at 2:00 pm. This is the final session of a GFOA webinar series on how local governments can use the Financial Foundations Framework to facilitate collaboration and support for public policies and programs. According to GFOA: Financial Foundations for Thriving Communities: Putting It All Together Date and Time: October 24, 2019 - 2:00pm…

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Gardner’s State of the County Address Focuses on “Liveable Frederick”

The state of Frederick County is strong, vibrant, and on the move, County Executive Jan Gardner said during her annual State of the County Address last week. “Livable Frederick lays the foundation for our bright future so we can make life better for the people who call Frederick home,” County Executive Gardner said. “We’ve embraced our rich history, invested in our people and places, and taken care of our citizens. We are leading the way…

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Carroll Sells Bonds at Record-Low Interest Rates

Carroll County this week sold $70 million of bonds at historically low interest rates, a direct reflection of the County's recent AAA credit rating from all three major financial rating agencies. Comptroller Robert Burk said the new bonds were sold at an interest rate of 2.19%. The interest rate on refinanced debt — 1.39% for tax-exempt and 2.27% for taxable bonds — will save the County over $5 million. “We are thrilled to receive the…

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Montgomery Earns Three AAA Bond Ratings

Montgomery County Executive Marc Elrich and County Council President Nancy Navarro announced that the three major bond rating agencies this week reaffirmed the County’s AAA bond rating. The ratings from Fitch, Moody’s, and Standard & Poor’s reflect the County's status as one of the top-rated issuer of municipal securities. “We view the county's management as very strong, with strong financial policies and practices under our FMA methodology, indicating financial practices are strong, well embedded and likely…

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Local Bill Aims to Close “Teardown Loophole” in Montgomery County

Montgomery County Council Member Evan Glass yesterday introduced the Housing Impact Fairness Act –– legislation aimed at raising money for affordable housing and school construction –– by closing the "teardown loophole.” https://twitter.com/MoCoCouncilMD/status/1184210415636615171 The bill would create an excise tax on the demolition or partial demolition (i.e., "teardown") of single-family homes and expand the applicability of the development impact tax for public school improvements. Council Member Glass says the proposal would raise $100 million over the next…

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