Conduit Street Podcast: The State of Play for School Funding
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March 10, 2023
Source: Maryland Bureau of Revenue Estimates
State Writes Down Revenue Projections By $478 Million
Board of Revenue Estimates approves a $478 million revenue write-down during the current and next fiscal year. In the final meeting for two of its three members, the Maryland Board of Revenue Estimates voted today to lower state revenue projections for fiscal 2023 by $77.4 million. The Board, which consists of Comptroller Brooke Lierman, Treasurer Dereck Davis, and Budget Secretary Helene Grady, also lowered revenue projections for fiscal 2024 by $400.3 million. Maryland Revenues and Economy…
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March 10, 2023
Economic Development / NACo and Federal Issues / Public Safety and Corrections / State Budget and Fiscal Issues
Counties to Feds: Maryland Spots Best for FBI Relocation
MACo joined a number of Maryland State and county leaders observing that Maryland's proposed sites for the new site of the FBI Headquarters are string, accessible, equitable, and efficient. This week, Maryland leaders made the strong case for our state to host the new headquarters for the Federal Bureau of Investigation. Governor Wes Moore on Twitter: "We are very serious when we say that Maryland is the best possible site for the @FBI https://t.co/U0aUFli0Dt" /…
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March 10, 2023
Supplemental Budget Proposed: Funds Disparity Grants, Updates Education Funding
Governor Moore has introduced a first Supplemental budget for FY24 - notably recognizing updated information on taxable income by county, which drives multiple funding formulas affecting counties and school systems. Supplemental Budget #1 was introduced Friday, March 3 - and is the first adjustment to the Governor's proposed budget. Under Maryland law, the Governor may revise the proposed budget through this supplemental process, as many times as desired, but the General Assembly must receive and…
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March 8, 2023
This Week: Board of Revenue Estimates to Vote on Revised Fiscal Forecast
The Board of Revenue Estimates (BRE) will hold a virtual meeting on Thursday, March 9, to vote on the revised general fund revenue estimates for fiscal years 2023 and 2024. The three-member panel, which includes Comptroller Brooke Lierman, State Treasurer Dereck Davis, and Secretary of Budget and Management Helene Grady, is responsible for estimating state revenues to manage the State’s budget. The forecasts for the current fiscal year and the one that begins in July…
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March 7, 2023
Board of Public Works / Finance and Procurement / Health and Human Services / Information Technology / Intergovernmental Relations / State Budget and Fiscal Issues / Taxes and Revenues
Comptroller Transition Report Includes Local Government Input, Goals
A Transition Team Report for the Office of the Comptroller, assembled by and to guide Comptroller Brooke Lierman, highlights a range of service, outreach, and equity matters. The Team included substantial local government representation, including MACo Executive Director Michael Sanderson. From the Comptrollers' website detailing the Transition Report: Transition Team Summary & Report: The Lierman transition was an open and inclusive process that connected individuals from around the state to reimagine how the Comptroller’s office…
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March 1, 2023
Governor Will Submit Supplemental Budget to Fully Fund Disparity Grants
Governor Wes Moore will submit a supplemental budget to fully fund the Disparity Grant Program, which is underfunded by $54 million due to outdated income tax data. At recent MACo meetings, county leaders were briefed on a recent revision to tax data, resulting in underfunded county disparity grants. This week, MACo learned that Governor Wes Moore will submit a supplemental budget to fully fund the Disparity Grant Program, currently short by nearly $54 million due…
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February 8, 2023
County Budgets / County News / Feature / Health and Human Services / News You Can Use / State Budget and Fiscal Issues
Conduit Street Podcast: A Local Take on the State Budget Plan
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February 3, 2023
County Budgets / County News / General Assembly News / State Budget and Fiscal Issues / Taxes and Revenues
DLS: New Tax Data Reveals Disparity Grant Program Underfunded by $54M
New income tax data reveals the Disparity Grant Program is underfunded by $54 million. The Disparity Grant Program provides noncategorical State aid to low-wealth jurisdictions. It promotes equity across jurisdictions to overcome disparate tax bases -- ensuring that counties, which rely on local income taxes for substantial revenue, can generate sufficient yield to fund schools, public health, public safety, roadway maintenance, and other essential community services. Recent years have seen State-imposed "caps" in this program…
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February 2, 2023
Governor’s 2024 Budget – What It Means for Counties
Governor Wes Moore unveiled a $63.1 billion fiscal 2024 budget proposal he calls a bold reflection of his priorities -- education, transportation, and public safety -- while being fiscally responsible. The proposed budget, which does not include a tax increase, maintains a Rainy Day Fund at the target level of 10 percent of General Fund revenue or $2.5 billion and, to account for economic uncertainties, a higher-than-normal budgeted General Fund balance of $820 million for…
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January 23, 2023