Maryland has ended the fiscal year with $504 million in unassigned fund balance. | File photo
Maryland has ended the fiscal year with $504 million in unassigned fund balance. | File photo
Maryland has ended the fiscal year with $504 million in unassigned fund balance. Of that, $144.2 million is from state agencies that were able to save $54.6 million more than planned.
There were also $339.3 million more in revenues than had been budgeted for 2018, according to information from Comptroller Peter Franchot.
Gov. Larry Hogan said it was good news for taxpayers and proof that his government was “continuing to make living in our state more affordable and changing Maryland’s economy for the better."
“We are proud to be responsibly managing our state agencies, resulting in nearly $150 million in savings that will benefit all Marylanders,” Hogan said in a press release.
The governor also noted that revenues were higher than expected in several other areas including personal income, corporate income, sales and lottery.
“Both Maryland citizens and businesses are making and spending more money, illustrating our growing economy and further affirming that we have our state on the right path moving forward,” Hogan said.
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