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NEWS
April 14, 1991
From: James M. JewellHarford County TreasurerBel AirI have reviewed Harford County Council President Jeffrey D. Wilson's letter, published in The Harford County Sun March 31, and offer the following comments. These comments are necessary to clarify several misconceptions in the letter to provide a clear understanding of accepted governmental accounting procedures and practices.Harford County is experiencing the impact of the economic recession. These difficult times require sound financial management and planning.
ARTICLES BY DATE
NEWS
July 2, 2014
Gov. Martin O'Malley's decision to seek $77 million in cuts to a budget that's barely 24 hours old is a sobering reminder that the state's economic recovery is tenuous at best. Maryland experienced no gross domestic product growth last year, and job creation here has been far from steady so far in 2014. Budget Secretary T. Eloise Foster introduced the budget cut proposals today by saying the administration wants to get ahead of any problems now in hopes of providing an extra cushion should revenues go south.
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NEWS
By Carol L. Bowers and Carol L. Bowers,Staff writer | March 24, 1991
The County Council has denied County Executive Eileen M. Rehrmann's request to transfer nearly $1 million from delayed or deferred capital improvement projects into the operating budget.Rehrmamn sought the transfer to help build a fund balance before the end of the fiscal year on June 30 in order to preserve the county's strong bond rating.Council members denied the request Tuesday on the advice of newlyappointed Council Attorney H. Edward Andrews III of Bel Air. He saidsuch a transfer of money would violate the county's charter.
NEWS
BY ERIKA BUTLER | June 3, 2014
With little fanfare, the Aberdeen City Council passed its $14.08 million budget for the next fiscal year that calls for spending less than in this fiscal year and does not include a property tax rate or water and sewer rate increase. As it passed the budget 4-0 (Councilman Bruce Garner was absent) for fiscal year 2015 during its city council meeting Monday night, the council members adjusted this year's budget to make repairs at the Aberdeen swim club and Ripken Stadium and one councilwoman thanked The Record for its recent editorial.
NEWS
By Harford County Bureau of The Sun | December 5, 1990
BEL AIR -- Harford County Executive Eileen M. Rehrmann, saying a recession has left the fiscal cupboard bare, imposed a 30-day freeze on hiring and purchases yesterday and indefinitely delayed plans for a $16 million county office building."
NEWS
May 11, 1993
The new budget proposed by Harford County Executive Eileen M. Rehrmann provides something for everybody, reflecting not only an improved economy and increased beneficence of the state, but also deferred needs from two years of enforced frugality.County employees will get a 3 percent cost of living increase after two years of freezes, sheriff's deputies will see pay parity, two new schools will open, two firehouses will be built, and a water treatment plant will start up. The county will also pay $6 million in Social Security taxes formerly funded by the state, plus $1.1 million in added employee health coverage obligations.
BUSINESS
By Peter H. Frank | September 22, 1991
Bank depositors all know they are protected up to $100,000 per account. For many, that's the only piece of security they have as they watch the banking industry writhe through wrenching losses and pending mergers.But what happens if the dwindling Bank Insurance Fund, or BIF, runs dry?"When we run out of money, we can print some more," quipped Caryl A. Austrian, a spokeswoman for the Federal Deposit Insurance Corp., the agency that oversees the insurance fund.The most recent projection from the FDIC is that the fund balance will fall to between $1 billion and $3 billion by the end of the year, depending on the size and number of bank failures in the next few months.
NEWS
By Michael Dresser, Baltimore Sun | August 30, 2012
Comptroller Peter Franchot urged Thursday that the state bank about $229 million in unexpected money with which it closed out the books on its last budget year, contending that Maryland's economy remains "exceedingly fragile. " The comptroller, whose office released the final numbers for the budget year that ended June 30, recommended that the General Assembly add remaining fund balance to the state's Rainy Day Fund. The figures the comptroller released were in line with a report in The Sun Thursday that reported the state had ended fiscal 2012 with roughly $225 million more than had been expected.  The additional funds will give Gov. Martin O'Malley additional flexibility as his administration prepares next year's budget, which will go to the legislature next January.
NEWS
By Michael Dresser, The Baltimore Sun | August 29, 2012
Maryland will begin the process of planning its next budget with about $450 million more than previously projected - mostly as a result of a rebound in revenue collections. According to a document obtained by The Baltimore Sun, the Board of Revenue Estimates has found that the state ended the fiscal year on June 30 with $225 million more than previously estimated. The board also projects that the state will close the current fiscal year with another $225 million more than anticipated.
NEWS
By Phyllis Brill and Phyllis Brill,Sun Staff Writer | November 6, 1994
Harford County ended fiscal 1994 on June 30 with a surplus of more than $18 million, according to an independent audit released last week.County Treasurer James Jewell said the surplus included $8.634 million in unappropriated funds, a 5 percent account that is held aside from year to year as a savings account for emergencies.Another $8.78 million was appropriated but unspent money that was rolled into the fiscal 1995 operating budget for use after July 1.Year-end bills not paid until fiscal '95 accounted for the remaining $666,000 in surplus.
NEWS
Erica L. Green and Erica L. Green | April 8, 2014
Baltimore city school officials presented Tuesday a budget scenario that could call for "considerable staff layoffs and de-funding key contracts that serve schools" if a $31 million deficit is not closed. In a presentation to the city school board, which can be viewed here , school officials unveiled the first draft of how revenues and expenditures are shaping up for next year. The actual budget for fiscal year 2015 will not be presented until next month, when it also has to be adopted.
NEWS
By Yvonne Wenger, The Baltimore Sun | November 26, 2013
Unexpected expenses and shortfalls - $3.8 million in police expenses, $4 million in unpaid tax credits, a $14.4 million gap from inactive speed cameras - left Baltimore officials scrambling in recent months to patch holes in the budget, the city's fiscal chief said Tuesday. Budget Director Andrew Kleine detailed the fixes in the $2.4 billion spending plan at a quarterly briefing before City Council members. He said he now expects a $4.5 million surplus by the end of the fiscal year in June.
NEWS
By Joe Burris, The Baltimore Sun | January 20, 2013
When first-year Superintendent Renee Foose presented her first operating budget for Howard County public schools, she lauded the proposal as being just a $7 million increase over last year's budget and said it meets the primary objective of protecting the classroom with no furloughs or decreases to staff. The $721.1 million plan also addresses such concerns as a new elementary school, accommodating 550 new students throughout the system and implementing several program enhancements.
NEWS
November 19, 2012
Two years ago, just after Gov. Martin O'Malley won his second term, Maryland's Spending Affordability Committee got a sobering briefing from state fiscal analysts. Thanks to federal stimulus funds, Maryland had been scraping by despite the deepest recession in decades, the collapse of the housing market, and a disappointingly slow start to the state's slots program. But that money was about to run out. The next budget year promised a $1.6 billion shortfall, and things were only expected to get worse from there.
NEWS
By Michael Dresser, Baltimore Sun | August 30, 2012
Comptroller Peter Franchot urged Thursday that the state bank about $229 million in unexpected money with which it closed out the books on its last budget year, contending that Maryland's economy remains "exceedingly fragile. " The comptroller, whose office released the final numbers for the budget year that ended June 30, recommended that the General Assembly add remaining fund balance to the state's Rainy Day Fund. The figures the comptroller released were in line with a report in The Sun Thursday that reported the state had ended fiscal 2012 with roughly $225 million more than had been expected.  The additional funds will give Gov. Martin O'Malley additional flexibility as his administration prepares next year's budget, which will go to the legislature next January.
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.
BUSINESS
By Stacey Hirsh and Meredith Cohn and Stacey Hirsh and Meredith Cohn,SUN STAFF | October 16, 2004
Maryland companies must pay $68 per worker next year to subsidize the state's unemployment insurance trust fund -- less than the $93.50 they paid this year and in line with projections, labor officials said yesterday. The 0.8 percent tax surcharge for 2005 is what state officials predicted this summer was needed to bolster the fund that pays benefits to laid-off workers. It is below this year's 1.1 percent that employers are paying. A state task force is working on a long-term solution to the shortfall in an effort to eliminate the fee, which businesses argue is unfair.
NEWS
By Michael Dresser, The Baltimore Sun | August 29, 2012
Maryland will begin the process of planning its next budget with about $450 million more than previously projected - mostly as a result of a rebound in revenue collections. According to a document obtained by The Baltimore Sun, the Board of Revenue Estimates has found that the state ended the fiscal year on June 30 with $225 million more than previously estimated. The board also projects that the state will close the current fiscal year with another $225 million more than anticipated.
EXPLORE
October 27, 2011
"Run it like a business" is the mantra every now and again when people are running for election. Never mind that not every business is successful and never mind that not every business turns a profit or manages to stay on top of the latest industry trends, just run it like a business. Of course what is meant when the run-it-like-a-business critique is applied to government is simple: run it efficiently and don't be wasteful or outlandish. Curiously, a lot of businesses would do well to abide by this general rule.
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