Comptroller re­lease FY 2018 close­out num­bers

The Avenue News - - VA HEALTH CARE FOR VETERANS -

Comptroller Peter Fran­chot to­day re­leased the fi­nal close­out num­bers for Fis­cal Year 2018, which were heav­ily in­flu­enced by strong Cap­i­tal Gains tax rev­enues as well as tax pol­icy un­cer­tainty and shifts in con­sumer fi­nances. Rev­enues came in 2 per­cent, or $339 mil­lion, ahead of es­ti­mates to help the State of Mary­land fin­ish the fis­cal year with an unas­signed Gen­eral Fund balance of $504 mil­lion.

“The good news is we’ve man­aged to out­per­form our mod­est es­ti­mates, but that doesn’t mean the state’s econ­omy is out of the woods yet,” said Comptroller Fran­chot. “Con­sumers are still cau­tious about spending their dis­cre­tionary dol­lars, and con­tin­ued po­lit­i­cal volatil­ity in Washington is likely to per­sist. I urge our state’s lead­ers to re­gard this year-end boost like an un­ex­pected bonus to be saved for fu­ture use, not to be spent im­me­di­ately.”

Gen­eral fund rev­enues to­taled $17.372 bil­lion in the fis­cal year, 2 per­cent or $339 mil­lion above es­ti­mates.

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