The Commissioners of St. Mary’s County recently gave final approval to a $253,113,474 FY 20 General Fund budget. The FY 20 budget represents a 10 percent increase over FY 19, including other financing sources.
Funding for education, county departments, and public safety accounts for nearly 82 percent of the General Fund budget. The adopted budget supports the $81,700,793 FY 20 capital budget.
According to a press release:
FY2020 budget highlights include …
- Income tax rate increases from 3% to 3.17% of net taxable income.
- Property tax rate remains at .8478; rescue rate increases for Mechanicsville.
- State and federal grants are projected to be $8,242,568 in FY2020 which is a 4.3% higher than the approved FY2019 budget.
- St. Mary’s County Board of Education receives a funding increase of $2,390,396 over fiscal 2019 to $106,242,921, or 2.3% over fiscal 2019. The county’s investment supports compensation increases for teachers and other school employees. State mandated Maintenance of Effort is $103,156,261.
- $14,881,410 of the June 2018 unassigned fund balance will be used for non-recurring operating and CIP PAYGO.
- The St. Mary’s County Sheriff’s Office will realize an increase of $3,400,283 or 8.4% for recurring expenditures.
- Full and regular part-time county employees will receive a phased in compensation increase, a one-step merit increase, a 1% COLA and a top of grade stipend.
Read the full press release for more information.