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St. Mary’s County adopts FY2016 budget, approves grants and agritourism and preservation commitments
Summary
Commissioners approved the county's FY2016 revenue and appropriation ordinances and adopted a $227.0 million general fund budget, while also approving several grant applications and letters of support for agritourism and land preservation.
The Commissioners of St. Mary's County approved the fiscal year 2016 revenue and appropriation ordinances and adopted the FY2016 budget on May 12, 2015, voting to set tax rates and advance a capital-improvement plan while retaining pay-go funding for near-term projects.
County finance director Jeanette Cudmore and interim chief financial staff reviewed the budget package, telling the board the constant-yield property tax rate set for the budget is 0.8523 and that the total FY2016 capital improvement plan (CIP) is $37,342,012. The adopted budget uses about $9.9 million in PAYGO (pay-as-you-go) funding for capital projects and carries a general-fund total of roughly $227,000,349.
The county's budget book also includes a plan for continued bond-funded projects (the draft showed $11.1 million in bonds for 2016 and additional borrowings in future years) and an appropriation for a mix of operating and one-time items. Cudmore told commissioners the board is using an estimated 4% growth factor for FY2016 revenue projections and that the county's June 30, 2014 unassigned fund…
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