County Starting ‘Savings Plan’ in January to Cover Shortfall

Montgomery County will start a savings plan in January of about 1.5 percent to balance its books, county officials said Tuesday.

In closing out fiscal 2018, which ended June 30, the county’s projections on expenditures and revenues were off by about $40 million. Although small in comparison to the county’s overall $5.4 billion spending plan.

Still, new Elrich administration budget director Richard Madaleno said the shortfall needs to be corrected moving forward.

The news comes after Comptroller Peter Franchot described state coffers receiving “oceans of revenue,” based in part on the Trump tax cuts and in part on the assessing of sales taxes on Internet sales.

How much of that money comes to Montgomery County, Madaleno said, is the “hundred-million-dollar question.”

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Douglas Tallman

About Douglas Tallman

Reporter with 35 years experience throughout Maryland. Reach me at or via Twitter at @MCM-Doug


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