Anne Arundel Announces Disaster Recovery Micro Grant Program

Grants of up to $5,000 available to Anne Arundel County businesses affected by Tropical Storm Ida Anne Arundel County Executive Steuart Pittman and the Anne Arundel Economic Development Corporation (AAEDC) today announced the launch of the Disaster Recovery Micro Grant Program (DRMGP) to help businesses recover from the tropical storm and tornado that struck the region on Wednesday, September 1. “We are extremely thankful that the tornado did not lead to any loss of life…

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Calvert Earns Three AAA Bond Ratings for Sixth Consecutive Year

Calvert County earned AAA bond ratings from the three major bond rating agencies for the sixth year in a row. The ratings from Fitch, Moody’s, and Standard & Poor’s keep borrowing costs low and reflect the County’s strong economy, robust revenues, and sound financial management. “This sixth consecutive assessment of top credit ratings for Calvert County is a testament to our fiscal stewardship,” said BOCC President Earl F. “Buddy” Hance. “It affirms our commitment to…

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Anne Arundel Earns Award for Excellence in Financial Reporting

The Anne Arundel County Office of Finance earned the Certificate of Achievement for Excellence in Financial Reporting by the Government Finance Officers Association (GFOA) of the United States and Canada. The Certificate of Achievement, which recognizes the County's financial report for fiscal 2020, is the highest form of recognition in governmental accounting and financial reporting and demonstrates the County's commitment to transparency. https://twitter.com/AACoExec/status/1450901593528885253 The GFOA, founded in 1906, represents public finance officials throughout the United States…

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ARPA Explained: A Recap of MACo’s 2021 Fall Symposium

On Wednesday, September 29, MACo held its 2021 Fall Symposium at the Blue Heron Center in Annapolis's Quiet Waters Park. Numerous county leaders, including several elected officials and local budget officers, traveled from across Maryland to discuss the American Rescue Plan Act (ARPA) with state officials and nonprofit representatives, as well as one another. The Rural Maryland Council also presented on the expansion of broadband in rural communities. The event was moderated by Chris Trumbauer, former…

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Cecil Refinances Debt, Saves Millions

County Executive Danielle Hornberger this week announced that Cecil County successfully refinanced approximately $115 million in bonds at significantly lower interest rates, saving taxpayers up to $28.5 million in debt service payments. According to a County press release: The County’s General Obligation Public Improvement Bonds’ interest rate was reduced from 3.47% to 2.03% and the County’s General Obligation Consolidated Refunding Bonds’ interest rate was reduced from 3.47% to 2.11%. “I am happy to announce that…

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The Tools We Use Evolve and Improve Over Time… Is Your Finance Office Using the Latest Tools To Best Serve Your Taxpayers?

By William Cherry Former County Treasurer and current Director of Public Partnerships at three+one Technology has changed our world in ways we couldn’t have imagined just a few years ago and it has vastly improved the tools that we use in our daily lives. For example, advances in communications technology have transformed cell phones from an occasional convenience item to now being a basic necessity of daily life in America. The tools that we use…

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Frederick Completes Historic Bond Sale

Frederick County this week sold $154.5 million in new tax-exempt bonds at a historically low interest rate, a direct reflection of the County’s recent AAA credit rating from all three major financial rating agencies. The tax-exempt bonds sold at an interest rate of 1.57 percent -- the lowest rate in County history. In addition, the County refinanced $30.9 million of 2013 and 2016A taxable bonds at an interest rate of 1.82 percent, which will save…

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MACo OPEB Trust Offers Plug-and-Play Solution for Healthcare Liabilities

The MACo OPEB Investment Trust - designed to help counties put current assets to work toward long-term health care liabilities - is performing well, delivering healthy returns, and serving member needs. Trustees convened this week for a quarterly remote meeting to review its performance and management. The Board of Trustees of the MACo OPEB Investment Trust convened a quarterly meeting via WebEx on September 10. In addition to reviewing investment strategy and performance, and discussing…

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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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