Rainy Day

Her parents raised her right. They are the ones who taught her to save money for a rainy day.When that rainy day arrived in 1994, it was her parents who needed her help."

Police sworn to protect us; we must reciprocateThese are prosperous economic times for the citizens of Howard County.With 2.3 percent unemployment, a resurgence in commercial and residential building, a rainy day fund in excess of $20 million and AAA bond ratings, we are frequently reminded of the accomplishments of our local officials.Howard continues to rank as one of the safest and wealthiest counties in the state and nation, attributes that continue to draw new residents to our planned communities and attractive surroundings.

While leaders of neighboring jurisdictions are struggling with grim budget problems, Harford County is sitting on a $19.5 million surplus -- the result of overestimating expenses and underestimating revenue in the last fiscal year, officials said yesterday.James Jewell, county treasurer, told the County Council last night that Harford is in better shape because of its conservative management.The council members, who received an independent audit of the county's finances last night, agreed.

Maryland ended its budget year with a modest surplus, the state comptroller announced yesterday.The state closed the books on the 1994 fiscal year, which ended June 30, with an extra $60 million, Comptroller Louis L. Goldstein said.Mr. Goldstein put the current surplus in context when he said it's enough money to keep state government running for less than two days.Still, it's the largest surplus since 1988, a few years before the recession took its full toll on the state's budget and economy.

Approaching Mother's Day on Sunday, Ticker presents today a few maternal and financial reminiscences:MOTHER & MONEY: My mother, Helen G. Westheimer, was a quiet, Victorian-type woman who often lectured me on money matters. Born on West Lexington Street in 1881 and daughter of Julius Gutman, a well-known local merchant, my mother grew up "to know the value of a dollar," as she put it. Some of her pet warnings: "Son, be sure to put away pennies for a rainy day . . . A penny saved is a penny earned . . . Julius, don't buy Boy's Life magazine for 20 cents when your father reads the Saturday Evening Post for a nickel . . . You don't need a car; I always walked from our home in the 1700 block of Eutaw Place across the North Avenue bridge to Goucher College every day, rain or shine, to save a nickel carfare."

County officials learned yesterday Anne Arundel could lose $2.7 million in the latest round of state budget cuts, a reduction that should have a minimal effect on government operations."

County department heads asked County Executive Charles I. Ecker lastweek for $277 million to fund a fiscal 1993 operating budget that includes no new programs or salary increases.The request is 2.5 percent more than the County Council approved last year and $14 million more than Ecker's financial advisory committee says the county can safely budget for the coming year. The fiscal year begins July 1.Ecker will hold a public hearing on the proposals at 7:30 p.m. Wednesday.The $151.3 million requested by the Board of Education accounts for 55 percent of the budget.

When County Executive Robert R. Neall presents his budget May 1, themost controversial element promises to be a new $10 million "rainy day fund."The fund proposal has union leaders seething. Even some County Council members who support the concept say they question whether so much should be put into a surplus account at a time when moneyfor programs, projects and employee salaries is so tight."It's absolutely ludicrous," said Tom Paolino, president of the Teachers Association of Anne Arundel County.

Washington. - After intruding on the breakfasts of innocent people for years, I happened, too late, upon a second-hand book titled ''How to Write Columns.'' I bought it, and stuck it on the shelf for a rainy day.Today's forecast includes afternoon showers, so:Olin E. Hinkle of the University of Texas and John M. Henry of the Des Moines Register and Tribune offered their advice to would-be columnists in 1952 via the Iowa State College Press, so it has a down-to-earth touch. They open with suggestions about column titles, for example ''Roamin' the Range,'' ''Farmer Peck's Wife,'' ''Rambling Roses and Flying Bricks'' and ''The Office Cat.''They have a chapter on ''Style -- and the Light Touch.

County Executive Robert R. Neall wants permission to create a "rainyday" fund to help Anne Arundel County weather future recessions."If the current recession has taught us anything, it's that the localgovernments have to have a hedge against a downturn," Neall told state delegates from Anne Arundel County Friday.At Neall's request, Del. John Gary, a Republican from Millersville, has introduced legislation that would allow Baltimore, Anne Arundel and others counties to set aside money to guard against lean budgetyears.

Baltimore Mayor Sheila Dixon has proposed tighter restrictions on a city reserve fund that some City Council members want to tap to ease the effects of budget cuts. Under the new policy - up for a Board of Estimates vote today - the so-called "rainy day" fund must be maintained at an amount equal to at least 8 percent of the combined value of the city's general fund and motor vehicle fund. That would be roughly $30 million more than its current value of $92.3 million. The proposed rules would restrict spending from the reserve account until other leftover money is spent, and the funds would have to be used only to "avoid a budget deficit in any given year."

Gov. Martin O'Malley announced plans yesterday to freeze tuition at colleges and universities and nearly double funding for stem cell research, releasing an inaugural budget that would slow state spending growth but do little to prevent billions in shortfalls expected later in his term. Just one day after taking the oath of office, O'Malley presented his $30 billion plan for state spending, which relies on nearly $1 billion from the state's "rainy day" reserve account that had been boosted by former Gov. Robert L. Ehrlich Jr. - but includes no tax increases.

Fells Point, a neighborhood known in part for its for wild nightlife, can be just as happening during a weekday lunch hour. Landscape worker Michelle Schimke, siblings Ashley and Nick Alder, and mother and daughter Elaine and Phylicia Childs were some of the folks who dined in the area on a rainy day last week. Fells Point has dozens of restaurants, from upscale eateries to pubs and carry-out spots.

One of the joys of late summer in Maryland is a good soaking rain, one that washes away the heat and, for a few moments, transforms the landscape in sweet and subtle ways. Many of these changes escape the notice of drivers and others in a hurry. But for those of us willing to slow the pace, there is beauty to be found: in the sparkle of a pokeberry plant, in reflections in water pooling on a deck. Sun photographer Jed Kirschbaum captured these images on a rainy Tuesday at the Promenade in Havre de Grace.

Rising property and income tax revenue should provide Howard County with a surplus at the end of the fiscal year June 30 that is three times higher than last year's -- but still a relatively small financial cushion, county officials said yesterday. Raymond S. Wacks, the county's budget director, told the county's Spending Affordability Committee that he estimates property taxes will produce $3.7 million more than expected, followed by $1.3 million more from income taxes and $1 million from other levies -- mainly the real estate recordation tax. Investment income, meanwhile, might decline by $200,000, he said.

Last week's question What do you plan to spend your tax refund on? 23.4 percent Travel (11 votes) 23.4 percent Putting it away for a rainy day (11 votes) 23.4 percent Not getting any money back (11 votes) 21.3 percent Furniture (10 votes) 6.4 percent Entertainment (3 votes) 2.1 percent Clothes (1 vote) 0 percent Getting pampered (0 votes) 0 percent Gifts for loved ones (0 votes) 47 total votes This week's question Are you observing TV Turn-Off Week? What's that? Sacrifice TV?

Already reviewing more than $2 million in suggested cuts and previously overlooked money sources that would balance next year's proposed $21.3 million budget without a tax increase, Westminster lawmakers are looking at further trims to give the city a cushion for the following year's spending plan. The Common Council's president said the time might have arrived to reduce the amount of money in the city's "rainy day" fund, and one of his colleagues said the city might be better off starting a line of credit.

Departing Gov. Parris N. Glendening unveiled a package of state agency budget cuts and other moves yesterday that he said would close a $550 million gap in the current year's budget and avoid layoffs. Glendening's solution, however, taps into a surplus account known as the rainy-day fund, which Gov.-elect Robert L. Ehrlich Jr. and leading lawmakers say they prefer not to use for fear of jeopardizing the state's bond rating. "I don't like it. We believe the rainy-day fund should be and can be preserved intact," said Ehrlich spokesman Paul E. Schurick.

Topics from pet droppings to dropping revenues occupied the Howard County Council at last night's monthly public hearing, the last gathering in the coun ty's 26-year-old Banneker hear ing room before renovations. Work will begin soon to raise the floor of the rounded, stadium-seating style chamber, to al low easier access for handi capped people. It should be complete by Sept. 16, when the council reopens after the hiatus next month. Meanwhile, the old room got one more dose of the kind of ev eryday issues that perhaps spawned the truism that "all politics are local."

WASHINGTON - Barely 24 hours after Vice President Al Gore called on the White House to tap the nation's strategic oil reserves, President Clinton agreed yesterday to release 30 million barrels of oil over 30 days, the largest such action in the history of the nation's emergency supply. The move was immediately denounced by Texas Gov. George W. Bush, Gore's Republican rival for president, as a bald political ploy on the part of Clinton. Clinton ordered the move to bring down the cost of home heating oil, used primarily in the Northeast, said Energy Secretary Bill Richardson, who announced the action.