Queen Anne’s Latest County to Opt In To MACo OPEB Trust

The Queen Anne’s County Commissioners voted to include the in-development MACo OPEB Trust as an investment option for their long term contributions toward retiree health care. OPEB, meaning “other post employment benefits” beyond traditional pension obligations, are long term costs that show up on government books as liabilities. Under state law, counties may place current … Continue reading Queen Anne’s Latest County to Opt In To MACo OPEB Trust

MACo Developing OPEB Trust For Long-Term Investments

MACo’s Board of Directors launched an initiative in 2013 to build out an Investment Trust vehicle, to offer service to county governments who have resources committed to their long term liabilities for retiree health care and various “Other Post Employment Benefits” (or OPEB). Currently every Maryland county carries some liability in this regard, and rule … Continue reading MACo Developing OPEB Trust For Long-Term Investments

Proposed Standards Require OPEB Accounting on Financial Statements

As reported in The National Association of Counties’ Washington Watch, the Governmental Accounting Standards Board recently approved two Exposure Drafts that recommend requiring state and local governments to report other post-employment benefits (OPEB), such as retiree health insurance, on their financial statements. This week, GASB released the full text of the proposed standards for any … Continue reading Proposed Standards Require OPEB Accounting on Financial Statements

Finance Association Issues New OPEB Guidance Document

In a recent article in Governing magazine, columnist Girard Miller discusses a new set of practices issued by the Government Finance Officers Association to assist State and local governments with implementing a trust to fund Other Post Employment Benefits (OPEB). …the Government Finance Officers Association (GFOA) has stepped up to the plate with a new … Continue reading Finance Association Issues New OPEB Guidance Document

New Map Provides County Pension/OPEB Payment Information

As reported by MarylandReporter.com, the Maryland Public Policy Institute released a pension map that details the amount counties and Baltimore City have paid towards pensions and OPEB over the course of the prior fiscal year. The numbers came from each county’s most recent comprehensive annual financial report (CAFR). Each jurisdiction on the map has a … Continue reading New Map Provides County Pension/OPEB Payment Information

Howard Budget Proposal Largest Ever, Keeps Taxes Steady

Howard County Executive Allan Kittleman has announced his FY 2019 budget proposal. The Baltimore Sun notes that not only is it the largest budget proposal ever for the county, it does not raise property taxes keeping them steady at $1.014. Highlights from a Howard County press release: The FY 2019 Operating Budget represents a 1.9 percent … Continue reading Howard Budget Proposal Largest Ever, Keeps Taxes Steady

MACo Exploring Landfill Closure Investment Trust

Multiple Maryland counties have funds set aside for the scheduled closure costs of public landfills. State law authorizes these funds to be invested like long-term assets — similar to pension funds or retiree health care obligations. MACo contacted county leaders today, beginning the process to form a pooled investment trust for counties, or other entities, … Continue reading MACo Exploring Landfill Closure Investment Trust

Your County’s Retiree Health Care Costs – And What To Do About Them

On January 30, Governing magazine is hosting a webinar on the latest rulings from the Governmental Accounting Standards Board (GASB), and what options might help your jurisdiction. Learn best practices and new approaches that might help your county’s bottom line. From their event description: Join us January 30 at 11 AM Pacific/2 PM Eastern to … Continue reading Your County’s Retiree Health Care Costs – And What To Do About Them

#MACoCon Panel Showcases Successful County Collaborations

At the 2017 MACo Winter Conference general session “We’ve Got Your Back: Counties Collaborate” attendees learned about how counties are leveraging intergovernmental and private sector partnerships to achieve the best results for county residents. The panelists discussed a range of challenges counties grapple with — responding to natural disasters, ensuring public safety, maximizing purchasing power and investments — … Continue reading #MACoCon Panel Showcases Successful County Collaborations

Maryland Ranks 46th out of 50 States for Fiscal Health

Florida comes out on top, with its government finances in the best shape compared to other states, in a new ranking of state fiscal health that university researchers published this week. At the bottom of the list, with the worst-off state fiscal situation: New Jersey. The Mercatus Center at George Mason University released the 2017 … Continue reading Maryland Ranks 46th out of 50 States for Fiscal Health