This proposed budget builds on Maryland’s legacy of protecting its AAA bond rating but includes innovative approaches to inherited challenges. Our goal in this section is to highlight the main economic and fiscal factors the Moore-Miller administration considered in crafting our Fiscal Year 2025 (FY 2025) Budget. National Economy

Proposed Operating Budget Detail (Budget Books): Volume I (16.1 MB) Volume II (14.1 MB) An official website of the State of Maryland.

What Fiscal Year Is It? Maryland is currently operating in Fiscal Year 2025, which started 7/1/2024 and ends 6/30/2025. Recovery Plan Performance Report - Annual Report #1. An official website of the State of Maryland.

Jan 17, 2024 · The governor’s FY 2025 budget proposal shrinks the state’s structural deficit by 34 percent, keeps the Rainy Day Fund balance at 9.4 percent, and flips the state’s projected cash shortfall of $1.1 billion to a positive cash balance of more than $100 million—all without raising taxes for Marylandders.

Jan 25, 2024 · Our proposed budget includes funding to bring up the number of Marylanders in the Service Year Option and Maryland Corps from 280 to 500. And for the second year in a row, we will give a much-needed raise to state employees.

Budget Bill (Fiscal Year 2025) AN ACT for the purpose of making the proposed appropriations contained in the State Budget for the fiscal year ending June 30, 2025, in accordance with Article III, Section 52 of the Maryland Constitution; and generally relating to appropriations and budgetary provisions made pursuant to that section. SECTION 1.

4 Budget for the fiscal year ending June 30, 2025, in accordance with Article III, 5 Section 52 of the Maryland Constitution; and generally relating to appropriations 6 and budgetary provisions made pursuant to that section.

Fiscal 2024 includes deficiency appropriations totaling $12.8 million in federal funds and $1.0 million in special funds. Fiscal 2025 accounts for contingent reductions. General funds include $42.0 million budgeted in the Dedicated Purpose Account (DPA) in fiscal 2025.

Jan 18, 2024 · The governor’s FY 2025 budget proposal shrinks the state’s structural deficit by 34 percent, keeps the Rainy Day Fund balance at 9.4 percent, and flips the state’s projected cash shortfall of $1.1 billion to a positive cash balance of more than $100 million—all without raising taxes for Marylanders.

employment and/or aid to State governments will adversely impact the Maryland economy and budget. • About 8% of Maryland taxpayers received a federal W -2 in tax year 2021. • The fiscal 2026 budget anticipates more than $20 billion of federal funds. • The increased revenue volatility produced by the Governor’s BRFA. The proposed