County Executive Ike Leggett released his Recommended FY18 Operating Budget of $5.4 billion last month.
According to Montgomery County’s Press Release, the budget increases County spending on the Montgomery County Public Schools by $54 million and holds property taxes at the Charter Limit by reducing the tax rate by 2.5 cents per $100 assessed valuation.
On the proposed schools budget, the County Executive is quoted as saying:
“Until last year, MCPS had been funded at, or below, the level defined as Maintenance of Effort (MOE) since FY09. That meant that on a per pupil basis, funding had not increased. In recognition of the longstanding need within MCPS to address its growing and increasingly diverse population, I recommended, and the Council approved, an increase of $87 million above MOE. This additional funding has allowed the Board to begin to address the many needs of its approximately 159,000 students.
“To build on this momentum, I am recommending an additional $25 million in resources above the MOE level of funding, for a total increase of 2.3 percent. Of this $25 million, $19 million represents an increase in the local contribution, and $6 million represents the use of additional fund balances or end of year transfer.”
For more information about other facets of the County Executive’s budget, see the complete press release from Montgomery County.