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St. Mary’s County adopts $222.6 million FY2014 budget, holds tax rates steady
Summary
The Board of County Commissioners approved the fiscal 2014 operating and capital budget on May 28, 2013, committing one-time funds to Spring Ridge Middle School renovation and maintaining existing tax rates; commissioners left about $7.96 million in unassigned fund balance for emergencies.
The Board of County Commissioners for St. Mary’s County approved the county’s fiscal year 2014 operating and capital budget and set tax rates at its May 28 meeting at the Chesapeake Building.
The 2014 budget approved by the commissioners totals roughly $222.6 million and keeps county property tax rates unchanged. Commissioners said the budget funds a mix of ongoing operations and one-time capital investments, most notably a $10 million-plus commitment to the Spring Ridge Middle School renovation.
County Chief Financial Officer Elaine Kramer summarized the package at the meeting, noting that the budget combines recurring revenue with a planned one-time use of fund balance. Kramer said the county will not sell bonds in FY2014 and…
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