Maryland Ordinance Adopting the Budget
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FAQ
In FY 2020 the state had a $585 million surplus, while in 2021 and 2022 the state had $2.5 billion and $2 billion surpluses, respectively, thanks to federal stimulus funding. Read the Closeout Report here.
The Maryland General Assembly enacted a balanced budget for the state government on the constitutional target date of April 3. The budget totals $63.1 Billion. The total actually is $933 million under this year's amount. That reduction is mostly due to the large amount of Covid-related federal aid last year.
Expenditures generally include spending on government salaries, infrastructure, education, public pensions, public assistance, corrections, Medicaid, and transportation.
Maryland's current budget The enacted budget included $64 billion in total spending and $27.9 billion in general fund spending.
Both houses must pass the bill in identical form; if they are unable to reach an agreement, the bill dies. In Maryland, shortly after the General Assembly Session ends, bills that have been passed are presented to the Governor. The Governor then has 30 days to either veto or sign the bills.
On April 24 Maryland Governor Wes Moore approved the state's fiscal 2024 budget, which provides approximately $63.1 billion in all funds appropriations, a decrease of roughly $932.8 million (1.5 percent) from adjusted fiscal 2023 appropriations. Maryland - Nasbo Nasbo ? resources ? maryland-budget Nasbo ? resources ? maryland-budget
In FY 2020 the state had a $585 million surplus, while in 2021 and 2022 the state had $2.5 billion and $2 billion surpluses, respectively, thanks to federal stimulus funding. Read the Closeout Report here. Maryland ends 2023 fiscal year with $555M budget surplus CBS News ? ... ? Local News CBS News ? ... ? Local News
It is now projected that the fiscal 2025 budget will start with a $418 million deficit. That represents a $650 million decrease compared to the January estimate. In the next year, the deficit rises to $572 million. This marks a significant difference of $835 million compared to the January projection. Budget deficits loom in the wake of the 2023 session - Maryland Matters marylandmatters.org ? 2023/07/16 ? budget... marylandmatters.org ? 2023/07/16 ? budget...
In the fiscal year of 2021, Maryland's state debt stood at about 29.9 billion U.S. dollars. By the fiscal year of 2027, this is forecasted to increase to about 36.81 billion U.S. dollars. The national debt of the United Stated can be found here. U.S. state and local government debt in Maryland FY 1999-2027 - Statista statista.com ? statistics ? maryland-state-and-... statista.com ? statistics ? maryland-state-and-...