The Maryland state budget for each fiscal year, covering a period ending on June 30, is approved by the Maryland General Assembly. For the fiscal year ending June 30, 2018, Maryland had a budget of $43.6 billion.[1]

Income for the Maryland budget is received from corporate tax, sales tax, individual income tax, and property tax.

Budget by counties

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Maryland's budget is invested in the following departments:

Budget for the University System of Maryland

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The portion of Maryland's budget invested in University System of Maryland is $5.48 billion. USM is a public corporation and charter school system comprising 12 Maryland institutions of higher education, this budget is distributed among its universities:

Budget for Maryland counties

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Another portion of the budget is invested in the State of Maryland's 23 counties:

For example, FY 2018 Maryland state budget included $2.3 billion for Montgomery County, of which $1.48 billion was invested in Montgomery County Public Schools and $128 million in Montgomery College. Montgomery County Public Libraries received $40.6 million of the budget. Other departments receiving a share of the FY 2018 budget included Montgomery County Police Department, Montgomery County Fire and Rescue Service, and Department of Recreation.[2]

Government budget balance

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Government budget balance in 2018 presents a gap between budget proposed and Maryland income of $250 million. In 2018, there is no surplus in Maryland finances.[3]

See also

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References

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  1. ^ "Budget" (PDF). dbm.maryland.gov. 2018.
  2. ^ "Montgomery County Spending". Montgomery County MD. Retrieved October 12, 2016.
  3. ^ Wiggins, Ovetta (17 October 2017). "Md. budget analyst: 'The outlook is better than I expected'". The Washington Post. Archived from the original on 2018-06-28. Retrieved 2019-12-31.{{cite news}}: CS1 maint: unfit URL (link)