Hogan Weighs In on Statewide Ballot Questions
ArtJane (CC0), Pixabay
Hogan Weighs In on Statewide Ballot Questions

Governor Larry Hogan yesterday announced his position on two statewide ballot measures up for consideration by Maryland voters on the November 3 ballot. Governor Hogan opposes Question 1, a constitutional amendment which would authorize the General Assembly, in enacting a balanced budget bill for fiscal year 2024 and each fiscal year thereafter, to increase, diminish, or add items -- provided that the General Assembly may not exceed the total proposed budget as submitted by the…

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Comptroller’s Office Earns GFOA Award for Excellence in Financial Reporting

The Government Finance Officers Association of the United States and Canada (GFOA) recently awarded the Maryland Comptroller's Office with the Certificate of Achievement for Excellence in Financial Reporting. “I’m exceedingly proud of the fact that, for the 40th consecutive year, the Maryland Comptroller's Office has been recognized for excellence in financial reporting, one of the core functions of our agency,” Comptroller Peter Franchot said. “This award underscores a commitment to transparency and accountability as we…

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State Fiscal Leaders: Federal Stimulus Key to Economic Recovery

State fiscal leaders say significant economic volatility underscores uncertainty and call for direct and flexible federal stimulus funds. The Bureau of Revenue Estimates (BRE) today released alternative fiscal guidance showing the impact that a slower-than-anticipated labor market recovery would have on official projections unanimously approved last week. As previously reported on Conduit Street, the Board of Revenue Estimates (BRE) last week unanimously approved revenue projections of $18.7 billion for FY 2021 and $19.7 billion for FY…

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MD Casino Revenues Tick Up for First Time Since Pandemic

Operating at 50% capacity, casino revenue increases 1% compared to September 2019 For the first time since their three-month shutdown due to the COVID-19 pandemic, Maryland’s six casinos have produced a year-over-year increase in gaming revenue. While COVID-19 restrictions continue to limit casinos to 50% of their capacity, September 2020 gaming revenues totaled $143,709,268, an increase of $1,486,131 (1%) compared to the September of 2019 total of $142,223,137. Four casinos saw increases from their September…

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Feds Award MEMA $2.5 Million to Reduce Risks of Hazards, Disasters

The Maryland Emergency Management Agency (MEMA) announced this week that it will receive $2,612,302 in federal Flood Mitigation Assistance (FMA) and Pre-Disaster Mitigation (PDM) grants. MEMA will distribute these funds to local jurisdictions throughout Maryland that are at risk for or have been adversely affected by natural disasters. The grants originate from the Department of Homeland Security, Federal Emergency Management Agency (DHS/FEMA), and fund specific projects that have been identified by local communities as important…

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State Bumps Up FY 21 Revenue Projections by $1.4 Billion, $2.1 Billion for FY 22

The Board of Revenue Estimates (BRE) today unanimously approved revenue projections of $18.7 billion for FY 2021 and $19.7 billion for FY 2022. The FY 2021 forecast reflects a $1.4 billion increase (and a $2.1 billion increase for FY 2022) from unofficial estimates that the Board heard at a special nonvoting session in May to better understand the State's fiscal posture and review several revenue scenarios in the midst of the COVID-19 pandemic. The three-member…

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Counties Urge Feds to Expand Local Access to Municipal Liquidity Facility

The National Association of Counties last week sent a letter to the U.S. Treasury and Federal Reserve urging that the agencies take steps to expand access to the Municipal Liquidity Facility (MLF), which was established under the CARES Act to help address local government budget challenges and support the national economy. In response to the detrimental fiscal impact of the COVID-19 pandemic, the Federal Reserve established the MLF to lend up to $500 billion to…

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