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Budget Surplus

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By Jessica Anderson, The Baltimore Sun | October 27, 2011
Harford County Executive David R. Craig announced Thursday that officials had amassed a $32 million surplus, allowing him to buck a string of budget cuts in neighboring jurisdictions and recommend giving all county employees $1,250 bonuses. The gesture toward 7,000 teachers, sheriff deputies and all other county workers is in sharp contrast with other counties and Baltimore City, where services are being curtailed amid tough economic times. Craig attributed the budget surplus to careful fiscal management and an increase of income tax receipts from job growth in the county because of military base relocations and new businesses.
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NEWS
By Kym Byrnes | April 17, 2014
As the county budget process gets underway, three Carroll County commissioners have put two plans on the table to spend $12.9 million FY2014 in budget surplus. In a Town Hall meeting on Tuesday, Carroll County commissioners Doug Howard and Haven Shoemaker proposed a plan to spend the surplus on education, nonprofits and IT upgrades, among other things. "I think [this plan] will actually allow us to move forward in strengthening some of the areas that have been struggling for the past couple years," Howard said.
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NEWS
By Kym Byrnes | April 17, 2014
As the county budget process gets underway, three Carroll County commissioners have put two plans on the table to spend $12.9 million FY2014 in budget surplus. In a Town Hall meeting on Tuesday, Carroll County commissioners Doug Howard and Haven Shoemaker proposed a plan to spend the surplus on education, nonprofits and IT upgrades, among other things. "I think [this plan] will actually allow us to move forward in strengthening some of the areas that have been struggling for the past couple years," Howard said.
NEWS
By Pamela Wood, The Baltimore Sun | June 13, 2013
The Annapolis city council passed Monday a $95.6 million operating budget and $10 million capital budget for next year, with a slight increase in the property tax rate and funding for projects that include a bulkhead replacement at City Dock. Mayor Josh Cohen, a Democrat, said the budget will improve government services while limiting the impact on taxpayers. "I think it's a good budget. I think it's a responsible budget," he said. Alderman Fred Paone, a Republican who voted against the measure, criticized the budget as unfixable.
NEWS
December 4, 1997
Sykesville has reduced the property tax rate and posted a budget surplus for the second consecutive year.An independent audit of town finances recently identified a $170,000 surplus in the $1.2 million budget for fiscal 1998, which began July 1 and included a 2-cent reduction in the tax rate.The rate of 77 cents per $100 of assessed value is 7 cents lower than it was three years ago.When Mayor Jonathan S. Herman announced last year's $300,000 surplus, he predicted another tax-rate reduction would follow.
NEWS
By Thomas W. Waldron and Thomas W. Waldron,SUN STAFF | October 29, 1997
With the Maryland economy thriving, the state government is enjoying a steadily growing budget surplus that is estimated at more than a quarter-billion dollars.While some lawmakers are urging that the money be banked, the governor and key legislators want to spend the money on a combination of new programs and building projects."This is an opportunity to single out two or three one-shot initiatives," said House Speaker Casper R. Taylor Jr., an Allegany County Democrat.The new estimates, by the legislature's fiscal analysts, peg the surplus for the budget year that ends in June at $254 million in a general fund totaling $8 billion.
NEWS
By John Fritze and John Fritze,SUN REPORTER | May 22, 2007
Faced with the prospect of divvying up a budget surplus for a third straight year, Baltimore officials unveiled yesterday a plan to spend nearly $19 million in extra money on neighborhood initiatives, arts programs and Mayor Sheila Dixon's anti-litter campaign.
NEWS
By John Murphy and John Murphy,SUN STAFF | May 22, 1998
The County Commissioners rejected requests yesterday to use budget surplus money to pave five high school tracks and to hire a counselor for a rape counseling service.Instead, the commissioners voted to use the bulk of a $418,000 budget surplus to reduce the amount it will need to borrow for roads, schools and other capital projects.The commissioners will take a final vote on the proposed budget May 28. If approved, the $181 million operating and $43.8 million capital budget would become effective July 1, the start of the 1999 fiscal year.
NEWS
By Larry Carson and Larry Carson,Staff Writer | September 15, 1992
The bean counters have counted, and Baltimore Count officials have a pleasant surprise -- a $4.9 million budget surplus for the fiscal year that ended June 30.But Hayden administration officials say the money won't come close to covering the $20 million to $30 million the county expects to lose this year when the state cuts aid to local governments in an effort to deal with its own budget deficit.County Executive Roger B. Hayden said that without the cash to cover state cuts, he is preparing to reduce the size of county government still further and will look at all county programs and services.
NEWS
By Karen Hosler and Karen Hosler,SUN NATIONAL STAFF | April 21, 1999
WASHINGTON -- President Clinton and Congress have been living with a budget surplus for only six months, but the money already seems to be burning a hole in their pockets.Despite their promises to "lock" the surplus away for Social Security, Medicare and paying down the national debt, Clinton and the lawmakers are preparing an emergency military spending bill in response to the Kosovo crisis that could eat up perhaps one-fourth of the surplus this year -- and much more in years to come.The momentum to spend some of this money demonstrates how vulnerable the surplus is to any goal that can be defended as urgent and how unlikely it is that any sizable sum of money can go unspent for long.
NEWS
November 6, 2012
I am a proud Democrat and have been for my entire adult life. So when the Supreme Court ruled that George W. Bush was the winner of the 2000 presidential election, I was deeply disappointed but consoled myself by thinking, "how much harm could one president do?" Well, I found out. In the eight disastrous years of the Bush presidency, our country went from prosperity - the budget surplus was a huge campaign issue! - to nearly complete economic collapse, and from a nation whose president helped to end long-standing international conflicts (remember President Clinton's actions in Bosnia and Ireland?
NEWS
August 30, 2012
You stumble upon some extra money lying around the house - some spare change behind the sofa cushions or the equivalent. You might be pleased with your unexpected good (albeit only modestly so) fortune, but you probably wouldn't be looking to spend it immediately or think it significantly changes your family finances. Yet it appears that in Annapolis, the presence of about $229.7 million more in revenue at the final close-out of the last fiscal year, which ended June 30, may actually prompt that kind of thinking.
NEWS
By Jessica Anderson, The Baltimore Sun | October 27, 2011
Harford County Executive David R. Craig announced Thursday that officials had amassed a $32 million surplus, allowing him to buck a string of budget cuts in neighboring jurisdictions and recommend giving all county employees $1,250 bonuses. The gesture toward 7,000 teachers, sheriff deputies and all other county workers is in sharp contrast with other counties and Baltimore City, where services are being curtailed amid tough economic times. Craig attributed the budget surplus to careful fiscal management and an increase of income tax receipts from job growth in the county because of military base relocations and new businesses.
NEWS
By Annie Linskey, The Baltimore Sun | September 1, 2011
Maryland finished the most recent budget year with nearly $1 billion in unspent funds, a surplus that was more than 50 percent higher than expected, mostly due to stronger-than-anticipated income tax receipts, officials said Thursday. "It is encouraging news," Gov. Martin O'Malley told The Baltimore Sun. He said the increase in revenues was "a sign of the recovery" that is "welcome. " It was a rare bit of good budget news in a state that has consistently come in hundreds of millions under revenue estimates used to make long-term deficit projections.
NEWS
August 17, 2011
J. Shawn Alcarese blames Standard & Poor's downgrade, along with all of our economic mess, on "[t]he unchecked government borrowing and spending since 2009, when Mr. Obama became president and the Democrats took control of both houses of Congress" ("U.S. was warned of a possible credit downgrade," Aug. 10). This is more of the partisan nonsense that passes for political debate these days. In fact, the Republicans previously controlled both Congress and the White House, and, during the Bush administration, tax cuts, an enormously costly prescription drug benefit in Medicare, extremely expensive and unfunded wars, and rising entitlement costs turned a $290 billion budget surplus in 2000 into a $455 billion deficit by 2008, and nearly doubled the national debt from $5.6 trillion to over $10 trillion and from 56 percent to over 84 percent of GDP. Then a Democratic Congress approved President Bush's bailouts of the financial industry that pushed the deficit and debt to higher levels.
NEWS
August 10, 2010
In Annapolis, few words in the English language are as abused as the term "budget surplus. " Case in point: the noises being made in recent days by some public employee unions that a slight improvement in tax revenues ought to end up in the pockets of state workers. Their target is the fund balance — the alleged surplus — left over in the fiscal 2010 budget that ended June 30. It takes time for the state to close out its books, but it appears Maryland will end up $300 million in the black, which is as much as $150 million greater than expected.
NEWS
By Karen Hosler and Jonathan Weisman and Karen Hosler and Jonathan Weisman,SUN NATIONAL STAFF | March 16, 1999
WASHINGTON -- Divided and frustrated, the bipartisan commission entrusted with saving Medicare will limp into its final meeting this afternoon to vote on a reform plan that would open the federal health care program to private sector competition while promising a new prescription drug benefit for the elderly poor.But with the commission still far from a consensus, hope has dimmed that Congress and the White House can reach a deal on Medicare before Washington is swept into the political maelstrom of the 2000 election.
BUSINESS
By Timothy B. Wheeler and Timothy B. Wheeler,SUN STAFF | January 12, 2000
The booming economy and Maryland's budget bonanza could yield dividends for the state's business community in the General Assembly session that begins today in Annapolis. Business leaders hope that the state's prosperity will prompt lawmakers to trim taxes and invest some of the $1 billion budget surplus in economic development. Odds are, from what legislative leaders and Gov. Parris N. Glendening are saying, executives will get at least some of their wishes. "These are good times," suggests Donald P. Hutchinson, president of the Greater Baltimore Committee, which represents business leaders in the city and suburbs.
NEWS
May 31, 2007
Is the mayor serious about cutting crime? I was pleased to see Mayor Sheila Dixon declare that Baltimore's level of violence is "unacceptable" and "has to stop" ("Dixon says violence `has to stop,'" May 25). I wonder, though, if there is some disconnect between the words Ms. Dixon speaks and the actions she takes. Specifically, I am concerned the plans the city announced last week to spend $19 million from its budget surplus ("City has big plans for budget surplus," May 22). Perhaps rather than being used for an anti-littering campaign or a fountain for kids to play in at the Inner Harbor, the money could go toward hiring, training and retaining more police officers in the city.
NEWS
By John Fritze and John Fritze,SUN REPORTER | May 22, 2007
Faced with the prospect of divvying up a budget surplus for a third straight year, Baltimore officials unveiled yesterday a plan to spend nearly $19 million in extra money on neighborhood initiatives, arts programs and Mayor Sheila Dixon's anti-litter campaign.
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