Office of Finance proposes FY26 budget with significant increases for various initiatives

In the heart of Prince George's County, a pivotal government meeting unfolded as officials gathered to discuss the proposed budget for the Office of Finance for the fiscal year 2026. Roger Benagas, the office's representative, set the stage with a detailed presentation that highlighted the mission and core services of the office, which include revenue collection, accounting, risk management, and debt management.

As the meeting progressed, Benagas outlined a strategic focus aimed at enhancing county services through various tax credit programs and a transition to a new treasury management system. This shift is expected to streamline property tax collections and improve overall efficiency. The proposed budget for the Office of Finance stands at approximately $6.9 million, marking a notable increase of 10.8% from the previous fiscal year. This budget includes a general fund allocation of $6.1 million and a special revenue fund for the Fair Election Fund, which has doubled to $800,000.

The discussion also touched on staffing challenges, with the office experiencing a 5.5% attrition rate due to retirements and employees seeking higher-paying opportunities. Currently, there are four vacancies, which have led to increased workloads for remaining staff, resulting in overtime and potential impacts on service quality. The office is actively working to fill these positions to alleviate the strain on its workforce.

In addition to budgetary concerns, the meeting highlighted the office's achievements, including the successful issuance of the county's annual debt report and the implementation of a cybersecurity self-insurance program, which is expected to yield long-term savings. However, challenges remain, particularly in managing staff shortages and maintaining service levels amidst increased demands.

As the meeting concluded, the committee members were left with a clearer understanding of the financial landscape and the operational hurdles facing the Office of Finance. The discussions underscored the importance of strategic planning and resource allocation in ensuring the county's fiscal health and the effective delivery of services to its residents.