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OMB outlines budget, grants and bond activities; highlights $695M in debt savings since 2020
Summary
Office of Management and Budget described its structure, grant activity, federal funding received since 2020, and bond-team savings; staff highlighted improved ratings and the need to separate enterprise and non-enterprise budget reviews.
David Klotfelter, director of the Office of Management and Budget (OMB), briefed the committee on May 15 on OMB’s structure, operational priorities and recent finance activity.
Klotfelter said OMB has 111 positions in its budget and a FY budget of roughly $60.4 million and that its work spans operating and capital budget preparation, grant coordination and bond issuance analysis. He said OMB’s grants coordination team has helped the county secure large federal and state funding, citing $27.6 million for the Ryan White program, and that since January 2020 the county has received more than $6 billion in federal funds and $712 million in state funds (including CARES and ARPA awards).
OMB’s bond acquisition and portfolio team was credited with securing refinancing and other actions that have saved the county roughly $695 million since 2020; ratings agencies have upgraded several county credits in the past four years, producing lower borrowing costs. Klotfelter described internal consulting, Lean Six Sigma training and a program-management team that handles FEMA and other disaster-related reimbursements, noting a current portfolio of federally reimbursable projects totaling roughly $770 million.
Commissioners asked for clearer separation between enterprise and non-enterprise budgets in upcoming budget deliberations and suggested a joint workshop with the Appropriations Committee to improve efficiency during the July budget and millage setting cycle.
Ending: Klotfelter said OMB will continue to help departments find efficiencies and pursue grants; commissioners discussed scheduling and format for upcoming budget deliberations and suggested joint committee sessions to reduce late-night meetings during the July budget cycle.
