Read more about the article State Lawmakers Weigh Spending Cuts, Revenue Enhancements to Address Looming Budget Deficits
County Budgets / Feature / News You Can Use / State Budget and Fiscal Issues / Taxes and Revenues
State Lawmakers Weigh Spending Cuts, Revenue Enhancements to Address Looming Budget Deficits

With the 2024 legislative session rapidly approaching, lawmakers will face considerable budget challenges that could drive spending cuts, tax increases, or other remedies to resolve significant structural deficits projected through fiscal 2029. At this week's Spending Affordability Committee meeting, the Maryland Department of Legislative Services said fiscal 2024 is projected to end with a fund balance of $528 million, with ongoing revenues exceeding ongoing spending by $125 million. A $413 million structural deficit is anticipated…

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November 8, 2023
Read more about the article Charles County Receives AAA Bond Rating for Seventh Straight Year
County News / Economic Development / News You Can Use / State Budget and Fiscal Issues / Taxes and Revenues
Charles County Receives AAA Bond Rating for Seventh Straight Year

Charles County announced that all three major national bond rating agencies, Fitch Ratings, S&P Global Ratings, and Moody’s Investor’s Service, have reaffirmed the county's AAA bond rating. Bond rating experts met with county leaders to review the health and stability of the county based on budget management, external audits, financial management, and economic development. This allows the county to maintain low interest rates when repaying bonds. “Retaining our AAA Bond Rating is a clear sign…

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October 26, 2023
Read more about the article State Department of Education Plans to Engage in the 2024 Legislative Process
County News / Education / State Budget and Fiscal Issues / Winter Conference
State Department of Education Plans to Engage in the 2024 Legislative Process

The Maryland State Department of Education, under new leadership, plans to engage in the 2024 legislative session, a departure from years past. The Maryland State Department of Education (MSDE) says it will “reset its role and voice” and advocate for education policies in Annapolis during the upcoming 2024 legislative session. At the State Board of Education's (SBOE) October 24 meeting, board members said they would work with Interim State Superintendent Dr. Carey Wright to draft…

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October 25, 2023
Read more about the article Counties to TRAIN Commission: Improve Process, Maintain Local Input, Remember Local HUR Funding
Siera Wigfield, Senior Planner in Garrett County, testifies before the Maryland TRAIN Commission
MACo Testimony / State Budget and Fiscal Issues / Transportation and Public Works
Counties to TRAIN Commission: Improve Process, Maintain Local Input, Remember Local HUR Funding

MACo's President Calvin Ball and a county panel addressed the State's Transportation Revenues and Investment Needs Commission, discussing the process for state project selection, the county "road show," and potential scoring systems for major state projects. The background issue, unsurprisingly, was the continued statutory version of county Highway User Revenues away from local governments - about which Commissioners sought more information at subsequent meetings. As the Maryland Commission on Transportation Revenues and Infrastructure Needs (cleverly…

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October 19, 2023
Read more about the article Capital Debt Affordability Committee Recommends 45% Increase in Bond Authorization for FY 25
County Budgets / County News / Economic Development / School Construction and Capital Budgets / State Budget and Fiscal Issues
Capital Debt Affordability Committee Recommends 45% Increase in Bond Authorization for FY 25

The State’s Capital Debt Affordability Committee (CDAC) approved a recommendation to set the State’s bond authorization $500 million above previous recommendations for fiscal year 2025, which would constitute a 45% increase in state borrowing. The Capital Debt Affordability Committee (CDAC) met three times in October to discuss the State’s fiscal health and consider the limit on new state capital debt for the next fiscal year. On October 16, the Committee adopted a set of borrowing…

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October 17, 2023
Read more about the article Governor Moore Announces $10M Build Our Future Innovation Infrastructure Pilot Program
Business Affairs / County News / Economic Development / Information Technology / News You Can Use / State Budget and Fiscal Issues
Governor Moore Announces $10M Build Our Future Innovation Infrastructure Pilot Program

Last week, Governor Wes Moore launched the Build Our Future grant program, a financial resource for innovation infrastructure projects to support eligible technology sectors. Funded at $10 million, the pilot program will provide matching grants of up to $2 million to projects that demonstrate a transformative impact in accelerating growth and innovation in the state's strategic industry sectors. "From cybersecurity and manufacturing to quantum and drug discovery, we believe the Build Our Future pilot program…

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October 10, 2023
Read more about the article County Emergency Managers to Governor: Please Prioritize Disaster Recovery Funding In FY25 Budget
Emergency Management / General Assembly News / State Budget and Fiscal Issues
County Emergency Managers to Governor: Please Prioritize Disaster Recovery Funding In FY25 Budget

This week, the Maryland Association of County Emergency Managers, a MACo affiliate, sent a letter advocating for Governor Wes Moore to include $10 million for the State Disaster Recovery Fund (SDRF) in the fiscal 2025 operating budget, which the governor will introduce during the 2024 session of the Maryland General Assembly. While a disaster always begins and ends at the local level, a strong partnership across federal, state, and local governments is vital to emergency…

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October 5, 2023
Read more about the article The Child Care Conundrum: Can We Curtail the Cliff?
Coronavirus / County News / Economic Development / Education / Policy Deep Dive / State Budget and Fiscal Issues
The Child Care Conundrum: Can We Curtail the Cliff?

This article is part of MACo’s Policy Deep Dive series, where expert policy analysts explore and explain the top county policy issues of the day. A new article is added each week – read all of MACo’s Policy Deep Dives. The child care industry has existing significant issues, with seemingly more complex solutions. In fact, experts are calling the increasingly tumultuous situation the “child care cliff.” Maryland's situation proves no different, with the combined forces…

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October 4, 2023
Read more about the article State Revenue Forecast Largely Unchanged: Inflation, Looming Shutdown Elevate Risk
County Budgets / County News / Feature / NACo and Federal Issues / State Budget and Fiscal Issues / Taxes and Revenues
State Revenue Forecast Largely Unchanged: Inflation, Looming Shutdown Elevate Risk

This week, the Board of Revenue Estimates adopted a revised estimate for fiscal 2024 – a  minor write-down of $14.1 million – and the first official estimate for fiscal 2025. The Board forecasts total general fund revenues of $24.566 billion in fiscal 2024, an increase of 3.8 percent over the prior year, and $25.081 billion in fiscal 2025, an increase of 2.1 percent over fiscal 2024. On an ongoing basis, taking out one-time distributions and…

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September 29, 2023
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