Hogan Notes Larger-Than-Expected Budget Balance

Maryland Governor Cancer
AP

Gov. Larry Hogan says Maryland ended the fiscal year with a higher-than-expected budget balance.

Hogan says the state's fund balance is about $295 million.

The Republican says about $84 million of that is from reversions from state agencies. That's $54 million more than previously expected.

Hogan says it's due to more careful management of state spending.

Maryland also benefited from about $214 million in higher-than-anticipated state revenues.

The governor noted the money needs to be used prudently. He says the state still has a $1.7 billion structural deficit over the next four years.  

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