Anne Arundel County Department of Finance

The Anne Arundel County Department of Finance is a crucial agency responsible for managing the fiscal health and stability of the county government. It oversees a wide range of financial operations, ensuring the responsible and transparent allocation of taxpayer dollars. The department’s primary mission is to provide sound financial management and services to the citizens, agencies, and elected officials of Anne Arundel County.

At the heart of the Department of Finance is the Controller’s Office. This office is responsible for maintaining the county’s accounting system, preparing financial reports, processing payments, and ensuring compliance with all applicable laws and regulations. It meticulously tracks revenue and expenditures, providing accurate and timely financial information to decision-makers. The Controller also plays a vital role in the annual audit process, working with independent auditors to ensure the integrity of the county’s financial statements.

Another key division is Treasury. The Treasury Division manages the county’s cash flow and investments. Its goal is to maximize investment returns while minimizing risk, ensuring that the county has sufficient funds available to meet its financial obligations. Treasury also handles debt management, issuing bonds and other forms of debt financing to fund capital projects. Prudent debt management is essential to maintaining the county’s credit rating and keeping borrowing costs low.

The Department of Finance also houses the Office of Budget. This office is responsible for developing and managing the county’s annual budget. The budget process is a comprehensive and collaborative effort, involving input from all county agencies and elected officials. The Office of Budget analyzes spending requests, projects revenue, and makes recommendations to the County Executive on how to allocate resources. The approved budget serves as a roadmap for county spending, guiding resource allocation throughout the fiscal year. Public input is encouraged during the budget process to ensure it reflects the priorities of Anne Arundel County residents.

Procurement is also under the purview of the Department of Finance. This division is responsible for purchasing goods and services for all county agencies. The Procurement Office ensures that all purchases are made in a fair, competitive, and transparent manner, in accordance with county procurement laws and regulations. It strives to obtain the best value for taxpayer dollars while promoting small and minority-owned business participation in county contracting.

In summary, the Anne Arundel County Department of Finance plays a vital role in maintaining the financial stability and well-being of the county. Through its various divisions, it ensures responsible financial management, accurate accounting, prudent investment, and transparent procurement practices. Its work is essential to providing the services and programs that Anne Arundel County residents rely on.