The Spending Affordability Advisory Committee report and What It Means for Business
Earlier this month, the Spending Affordability Advisory Committee, a group of Howard County citizens, business, and civic leaders appointed by Howard County Executive Allan H. Kittleman presented its annual report. The 17-page report, which reviews future county revenue levels and other financial indicators for fiscal years 2018-2022, concluded that the county will face significant challenges to both its capital and operating budgets in the upcoming fiscal year as well as future years. Such immediate and long-term challenges emerged from a doubling in the County’s over 65 population by 2025, a shift in housing development from single family dwellings to multi-family units and likely cuts in federal and state expenditures. The report concluded that without additional revenue sources or adjustments to projected expenses, county services and capital improvement needs will outpace revenue growth, making current spending patterns unsustainable.
Report findings have far reaching implications for those that live and operate businesses in the county. Consequently, SAAC members are meeting with various stakeholders to further explain and discuss the data contained in the document. Business leaders should take special interest as revenue shortfalls are often met with increased fees and related assessments.
The Howard County Chamber of Commerce will hold a meeting on May 2, 2017 from 8 AM to 9:30 AM at the Courtyard Marriott Columbia 8910 Stanford Boulevard Columbia Maryland 21045. The meeting will feature representatives from the SAAC and the County Budget and Finance Departments. The complete Spending Affordability Advisory Committee Report is available on-line from the County’s website at www.howardcountymd.gov/Departments/County-Administration/Budget/Spending-Affordability-FY-2018.
Leonardo McClarty, CCE
President/CEO, Howard County Chamber of Commerce
5560 Sterrett Place - Ste. 105, Columbia, MD 21044
P: 410-730-4111 x. 107 / E: email@example.com / @lmcclarty34
The Mission of the Howard County Chamber of Commerce is to provide advocacy, connections, and access to timely information to advance the growth and success of the business community.