Department of Finance - About Finance
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Mission and Vision
The mission in the Department of Finance is to prudently
manage financial operations, recommend and implement sound fiscal
policies, safeguard public assets, and encourage a safe environment
on public property.
We will accomplish this by adopting the
Countys Mission Statement as our own, and by:
- Adhering to the highest professional standards
- Promoting employee growth & development
- Being timely
- Providing thorough, accurate, and objective analysis
- Being proactive and informed
- Practicing organization loyalty
The vision of the Department of Finance is to become a world-class financial operation by
promoting accountability, efficient services, and sound financial decision-making. The
Montgomery County Department of Finance will be the benchmark by which local government
financial operations are measured.
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Department Services
Director's Office (240-777-8860)
Debt and Cash Management
This program provides support for effective debt management with the goal of maintaining the
County's AAA General Obligation Bond debt rating, and the active investment of the County's
working capital to generate investment income. The program's objectives include managing the
timely and economic issuance of short- and long-term financial obligations; developing and
maintaining strong rating agency and investor relations; preparing accurate and timely
financing documents, including the County's Annual Information Statement; ensuring strict
compliance with disclosure requirements; coordinating bond counsel review; providing
high-quality consulting services for County agencies, managers, staff, elected officials,
the press, and citizens on issues related to debt and investment management, and management
of the County's relationship with the banking community.
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Internal Audit
This program provides accurate, independent, and useful information through audit services to
assist Executive Branch managers in the effective discharge of their responsibilities.
Internal Audit is mandated by County Charter, Article 2, Executive Branch Section 218. The
program provides identification of areas of risk in accountability systems; conducts fiscal,
contract, performance, and information systems audits for financial compliance, economy,
efficiency, and effectiveness; oversees investigative audits and audits required by law;
provides advice to departments on internal control issues; and communicates the actions
necessary for enhancing accountability.
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Information Technology
This program provides overall direction for the development of automated systems and
technology to support effective and efficient achievement of the Department's mission.
Activities are proactively coordinated with the Department of Technology Services, other
County departments, and department staff to ensure consistency of department systems with
Countywide automation policies and standards. The program oversees development, selection,
procurement, implementation, and maintenance of the Finance Department's automated systems
and components. The Information Technology section is also responsible for directing,
planning, coordinating, and evaluating resources, processes, and procedures related to data
integrity, security, and controls within the County's financial and procurement systems,
including timely and comprehensive completion of financial systems upgrades, effective
education of County financial systems users, timely and comprehensive response to customer
Help Desk questions, proactive trouble shooting and system maintenance, and timely
availability of internal financial reports.
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Operations and Administration
This program includes operational support for the department as well as the administrative
portions of the Director's Office, the Division of the Controller, the Treasury Division,
and the Division of Risk Management. The program provides support for efficient, effective,
and timely accomplishment of the department's mission, including budget development and
oversight, personnel administration, strategic planning, and contract administration. The
program also provides effective management of the financial aspects of economic development
initiatives; proactive development of intergovernmental policy alternatives and impacts; and
high quality consulting services for County agencies, managers, staff, elected officials,
the press, and citizens.
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Controller Division (240-777-8800)
Accounts Payable
This program is responsible for timely and accurate payments to vendors for goods and
services provided to the County; for complying with County policies and procedures; and
carrying out State and Federal reporting requirements. Payments to vendors are initiated and
approved by individual departments. The Accounts Payable program is responsible for review
and final approval of payments of $5,000 or more, as well as most refunds and other
non-expenditure disbursements. Payments under $5,000 are individually reviewed and approved
by operating departments and potentially subject to post-payment audit by Accounts Payable.
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General Accounting
This program is responsible for the analysis, interpretation, and presentation of the
County's financial position and results of operations through timely, accurate, and
professional financial reports. These reports provide public assurance as to the
accountability and integrity of the use of County resources; adherence to budgetary policies
established by management; and compliance with Federal, State, and County mandates. The
program prepares the Comprehensive Annual Financial Report, Debt Service Booklet, Single
Audit Report of Federal Grant Programs, and State Uniform Financial Report, as well as
numerous other standardized and specialized reports. This program also provides high
quality, timely service to County departments through technical assistance and through
preparation, review, and approval of County financial transactions.
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Payroll
This program is responsible for managing and maintaining the County's payroll system and
functions as prescribed by Federal, State, and County laws, and local regulations. The
program provides timely and accurate payroll disbursements to County employees, accounts for
payroll deductions, issues W-2 statements to account for pre-tax and post-tax benefits,
maintains official payroll and leave records, and responds to internal and external
inquiries. The program proactively operates in conjunction with other County departments to
maintain the Human Resources Management System and to develop efficient and effective
improvements to this system.
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Property Taxes
This program is responsible for collection of property taxes, which are the County's largest
revenue source. The program provides accurate calculation and timely distribution of tax
bills, accounting and distribution of tax collections to municipalities, and timely
collection of delinquent accounts through the tax sale process. This program manages
numerous tax credit, deferral, and assistance programs and is responsible for the accurate
recordation and processing of all excise taxes. The public tax information portion of the
property tax program has a significant customer service objective of providing accurate and
timely tax information to attorneys, title companies, and the public for preparation of
property settlements and other uses.
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Transfer and Recordation Tax/Public Advocate
The primary responsibility of this program is the timely and accurate processing and
collection of the transfer and recordation taxes associated with Real Property transfers and
Recordation of Instruments of Writing. The Public Advocate for Assessments and Taxation
provides an independent review of State-determined property tax assessment valuations for
fairness and accuracy.
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Treasury Operations
This program is responsible for providing coordination and oversight of treasury operations,
and customer services through the cashiering function. It is also responsible for the
accurate revenue and economic forecasting, and publishing reports on economic and revenue
analyses on a monthly and quarterly basis for dissemination to the County Council and
public. In addition, Treasury Operations administers the County's Working Families Income
Supplement program.
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Risk Management Division (240-777-8920)
Insurance
County Code 20-37 established the Montgomery County Self-Insurance Program. The program
provides comprehensive property and casualty insurance for the County and participating
agencies. The program is funded through contributions from the agencies, which are based
upon an annual actuarial analysis of outstanding and projected future claims filed against
the participants. The program provides accurate and timely insurance and risk management
advice to participating agencies and reduces County and participating agency exposure to
risk by: comparing the cost of commercially-available coverage to evaluate the best method
of funding exposure to loss; transferring contractual risk under indemnification/hold
harmless agreements; avoiding risk; operating proactive safety programs; and purchasing
commercial insurance.
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Legal Services
This program funds activities of the Office of the County Attorney, which provides legal
services including investigation, negotiation, and litigation on behalf of the County and
agencies that participate in the Self-Insurance Program.
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Occupational Safety and Health
This program coordinates reporting to Federal and State regulatory agencies on health and
safety issues. The State-required injury reports and the mandated safety training and record
keeping are completed on schedule. The program responds promptly to inspections and queries
from the Maryland Occupational Safety and Health Administration. Accident prevention
programs are conducted, and continuous training in loss prevention and loss control is
provided to promote a safe and healthy work environment for County employees.
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Legal Mandates
The following links will take you out of the Department of Finance website. To return, please
use your browser's back button.
The County Charter specifies the Department of Finance as a principal department
(Montgomery County, Maryland Charter Section 212), and outlines the functions, duties, and responsibilities of the Department
of Finance and the Finance Director (
Montgomery County, Maryland Charter Section 214).The
County Code contains several references to responsibilities of the Director of Finance
and the Department of Finance. Chapter 20 of the County Code describes the duties of the Department and the Director.
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Budget Information
Fiscal Year 2009 County Executive Recommended Budget for the Department of Finance
Fiscal Year 2008 Approved Budget for the Department of Finance
Fiscal Year 2008 County Executive Recommended Budget for the Department of Finance
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Seniors
