December 5, 2017

County Executive Ike Leggett Developing a Recommended Savings Plan to Address FY18 Revenue Shortfall

Montgomery County’s November income tax distribution for the state of Maryland is forecast to be short $64 million below expectations. County’s Department of Finance projects a total revenue shortfall of $95 million in expected FY18 resources. Adding a $25 million revenue shortfall from the previous year, the total savings required are $120 million

To address the shortfall County Executive Ike Leggett has asked all Executive Branch departments to identify a two percent savings in the current FY18 budget.

Leggett will present his recommended savings plan to Council in mid-December.

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