Revenues Miss the Mark, Adding to Future Budget Concerns
By Henry Bogdan, Public Policy Director, Maryland Nonprofits
State general fund revenues in
At the end of this year’s legislative session, the Department of Legislative Services (DLS) projected that FY17 (the current budget year) would end with a structural balance of $139 million, with a similar figure for the next budget (for FY18). With a lower revenue base and less ongoing revenue than projected likely in FY17, maintaining structural balance would require less spending than originally budgeted for this year, and probably less than projected for the budget of FY18.
The March DLS outlook also projected that by FY19, general fund cash balances in excess of the Rainy Day fund (that has never been used) will be exhausted and we would move back to