State Closes Fiscal 2018 With Greater Than Expected Revenues

Comptroller Peter Franchot recently announced that the State closed out fiscal year 2018 with a surplus of $508 million. As reported by the Baltimore Sun,

Strong returns from the state’s capital gains tax returns helped revenues come in about $339 million — or about 2 percent — higher than expected, while state agencies spent less than their individual budgets to achieve the $504 million surplus, according to the comptroller’s office.

More details can be found in the Fiscal Year 2018 Close Out Report.

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