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Maryland Ends Fiscal 2012 With More Funds Than Expected

August 31st, 2012 by WCBC Radio

WBAL reports that Maryland has ended fiscal year 2012 with nearly $230 million more than expected. Comptroller Peter Franchot on Thursday released the final numbers for the fiscal year that ended June 30. Franchot says general fund revenues were about $14.3 billion. The extra $230 million is on top of about $200 million in fund balance that also is available for the upcoming budget cycle. While revenues were higher than expected, the comptroller says revenue data reflects ongoing weakness in the state's job market. He says the extra money should go into the state's Rainy Day Fund…

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