ANNAPOLIS — A top Maryland budget analyst advised lawmakers on Monday that $389 million in new stimulus money assumed in the state budget may not materialize, and he counseled them on ways to make up for the money if it isn’t approved.
Warren Deschenaux, who is the director of the nonpartisan agency that reviews state fiscal matters, said there is enough cash on hand to make up for the gap.
For example, Maryland could largely make up for it by using $274 million in extra fund balance Gov. Martin O’Malley included in the budget he released last week. The remaining $115 million hole could be filled by using some of the state’s $635 million Rainy Day Fund.
However, if lawmakers want to leave extra money in the budget to adjust for any further revenue drops Deschenaux advised them to look for other places to find the money.
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