The Board of Finance is established under Article VII Section 19-21 of the City Charter.
The Board consists of five members: the Mayor, Comptroller, and three private citizens who shall be appointed, and confirmed by the City Council, and shall serve, pursuant to Article IV, Section 6. None of the members serving on the Board receive any additional salary for such membership.
The Mayor shall serve as the President of the Board. The Mayor may designate a representative to represent the Mayor in the Mayor’s absence. In that event, the Board’s Vice President shall exercise the powers of the Board President.
Hon. Stephanie Rawlings-Blake – President
Hon. Joan M. Pratt
Larry I. Silverstein - Vice President
Frederick W. Meier, Jr.
Dana C. Moulden
Powers and Duties
As delineated in the City Charter, the Board of Finance has the following responsibilities:
- Authorizes and issues certificates of indebtedness of the City and determines all matters pertaining to the issuance and sale of certificates of indebtedness.
- Selects all depositories for City Funds.
- Fixes the nature, amount, and the proper custodian of the security to be given by any such institution(s) for the faithful performance of its obligations for deposits or collections.
- The Board is the only body that has the authority to issue temporary loans consistent with the Charter and is empowered to authorize the issue of negotiable, or non-negotiable, obligations of the City, including promissory notes.
- The Board reviews the six year capital improvement program and first year capital budget as recommended by the Planning Commission and reports its recommendations to the Board of Estimates.
- Oversees all City trust accounts
- Reviews all City investments and other matters related to debt.
- Designates a clerk to the Board who shall keep its accounts and a record of its proceedings.
The Board of Finance typically meets the fourth Monday of the month at 3pm in Room 7, 200 Holliday Street Baltimore, MD 21202. The schedule is subject to change and interested parties should contact the Bureau of Treasury Management at 410-396-4750
for the latest details.