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Friday, September 02, 2011

Maryland Ends Year With A Surplus — As Much As $990 Million

Maryland officially closed out fiscal year 2011 with a $400 million surplus (fund balance), collecting $314 million more in the general fund than expected – but $92 million less than anticipated in corporate income and sales taxes, according to Comptroller Peter Franchot. But the Baltimore Sun is quoting a memo to Gov. Martin O’Malley from his budget secretary that says Maryland finished the fiscal year with $990 million in unspent funds, showing an end-of-year surplus that was about 50% higher than expected.

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2 comments:

  1. AnonymousSeptember 2, 2011 at 11:07 AM

    How is he O'faily with a surplus. There is no justification for that.

    ReplyDelete
  2. AnonymousSeptember 2, 2011 at 9:21 PM

    You know, when Clinton left office we had a federal surplus. It didn't take long for Bush to spend it all and then some.

    I am quite sure that is what will happen to Maryland's surplus.

    ReplyDelete

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