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Council moves $2 million of Green Bank increase to reconciliation list amid tight budget
Summary
Facing a tight FY27 budget, the council voted to put $2,000,000 of the proposed Green Bank non‑departmental account increase on the reconciliation list — a compromise officials said preserves core Green Bank activity while allowing further fiscal review.
Montgomery County officials on May 8 agreed to place $2,000,000 of the executive’s proposed Green Bank increase on the reconciliation list for further consideration. The joint Transportation & Environment and Government Operations committees recommended a near‑$2.4 million increase to the Green Bank’s NDA to sustain staffing and investment activity; committee cochairs described large returns on county dollars used to leverage private capital.
Vice President Miriam Balcon moved the reconciliation‑list placement and said the approach allows staff to protect core capital and working balances while giving the council room to consider additional cuts if necessary. Green Bank CEO Steven Morrell told the council the organization leverages roughly $4 of private capital for every county dollar and that a $2 million reduction from the recommendation is manageable but long‑term consistency matters for market leverage.
Supporters — including council members Andrew Friedson and Evan Glass — acknowledged the Green Bank’s role in financing energy upgrades and resiliency projects that produce cost savings and public‑health benefits. Several members called the change a difficult but reasonable compromise given the county’s overall fiscal constraints.
The council voted to add the $2,000,000 figure to the reconciliation list and then approved the Green Bank NDA as amended. Staff said the reconciliation list item means the funding could be restored or further reduced as final budget adoption proceeds later in the week.
