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Comptroller announces revenue surplus of $2 billion in its general fund

October 17th, 2022 by WCBC Radio

Comptroller Peter Franchot recently announced that the state of Maryland has closed its books on Fiscal Year 2022 with a revenue surplus of $2 billion in its general fund. The comptroller said this is the second straight year that the state’s coffers have seen a massive unanticipated influx of revenues in the year-end report. In remarks delivered at this month’s Board of Public Works meeting, Franchot emphasized that the positive closeout report is welcome news that should be taken with caution, due to the volatile global economy. He said it is vitally important to prepare now for the economic downturn that we’re starting to see signs of by bolstering our reserve accounts…