MoCo's Budget Shortfall Persists
There was good news and bad news from Montgomery County's budget writers this afternoon.
Budget director Joe Beach reported to the council's fiscal committee that the size of the projected shortfall for fiscal 2010 remains the same - about $251 million. But that is largely because budget writers used a smaller increase in projected spending to calculate the gap.
"We didn't want to paint a rosy picture, but to show that even under a more restrained expenditure scenario, the fiscal challenge was still going to be a big problem," Beach said.
Instead of using the 10-year average annual spending increase of about 8 percent, budget writers started with 3.7 percent - the increase from fiscal 2009 to fiscal 2009. They then added obligations, such as rising gas and energy costs for a total projected increase of 5.7 percent.
The full County Council gets a primer on the fiscal outlook at tomorrow's session. Read more here from Staff Director Steve Farber's memo.
September 22, 2008; 3:36 PM ET
Categories: Ann Marimow , Montgomery County
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