Montgomery County – on a unanimous vote of the County Council – has passed its FY 2017 operating budget of $5.3 billion and a six-year capital improvement program (CIP) budget. The operating budget focuses on putting “education first” and the CIP includes spending for construction projects such as schools and roads.
According to a Montgomery County press release,
The Montgomery County Council today approved a $5.3 billion County operating budget for Fiscal Year 2017, a 4.3 percent increase over the approved budget for FY 2016. The Council also unanimously agreed on a $4.6 billion Capital Improvements Program (CIP) for Fiscal Years 2017-2022.
“We have approved an Education First budget, and we have engaged in an unprecedented partnership to rebalance our spending in a way that is responsible to all,” said Council President Nancy Floreen. “The Council’s budget plan makes the course correction required for the needs of today and the long-term future of our County.”
The CIP provides nearly $200 million in new funding, and will address the County’s most urgent capital needs—school construction and community infrastructure. Through a rate change to the recordation tax on property sales, the Council added nearly $170 million to accommodate school capacity and building improvement needs. The Council approved $1.73 billion over the next six years for Montgomery County Public Schools’ CIP, which is the highest funding level ever provided. The bill also will generate about $4 million in additional revenue annually for rental assistance to low and moderate income households.
Visit Montgomery County’s website for more FY 2017 budget information.