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$4 million deficit is smallest of Baker Administration because of investments to grow the County’s Economy
Upper Marlboro, MD – Today, Prince George’s County Executive Rushern L. Baker, III, in accordance with the Prince George’s County Charter presented his FY 2018 Proposed Operating and Capital Budgets. The proposed FY 2018 budget for all operating funds is $3.84 billion, an increase of $130.7 million or 3.5% over the FY 2017 budget. The General Fund accounts for 84.1% of all spending in FY 2018 and will increase by $113.6 million or 3.6%. This fund supports most County government services and programs including education, public safety, general government, public works, the environment and other critical services. The FY 2018 proposed budget is framed by a growing economy that is experiencing growth in both the real estate and job markets as well as the impact of a full year of MGM National Harbor related revenues.
Overall, the FY 2018 General Fund forecast represents an increase of $113.6 million or 3.6% over the FY 2017 Budget. The proposed FY 2018 General Fund budget includes $1.92 billion in County Sources and $1.31 billion in Outside Aid. County source revenues – taxes, fees, licenses and permits, service charges, use of money and property, etc. – represent resources used to fund most government programs and services, including the County’s contribution to the Board of Education, Memorial Library System and Community College. In FY 2018, County sources are projected to be $1.92 billion, an increase of $113.6 million or 6.3% over the FY 2017 budget. These revenues account for 59.5% of the total General Fund revenues for FY 2018. To view the Proposed FY 2018 “Budget in Brief” document please click here.
“We did not fixate on past history, we dreamed of a better future and created a way to get there,” said Prince George’s County Executive Rushern L. Baker, III. “Well this year’s budget shows that our focus on key priorities was the right direction for us to take. I firmly believe, the approach we took is why our economy is getting stronger, our opportunities are greater and our stature around the region and in the state have risen. We have made our communities and neighborhoods safer by significantly reducing overall crime by 55% over the last 6 years. We have seen historic levels of economic development activity with over $9 billion in development projects that have taken place or are in the pipeline. Housing values are up 61% since 2010. Unemployment has dropped 50% since 2010. We have created 15,100 new jobs in the County since 2013 and when the MGM’s 3,600 new jobs are added, that will be over 18,000 new jobs. The results we are seeing are what happens when we make key investments and channel resources where they will have the greatest impact. Today, our financial position is stronger and we are clearly back on the right path. And for that, we are optimistic about what lies ahead.”
The FY 2018 proposed budget reflects adherence to our economic strategy over the last six years of building a stronger financial foundation upon which we are now able to “dream for tomorrow”. The proposed budget provides additional resources for critical core services and targets expansion into new programming. The County’s regional stature has risen and our economy is improving. The historic level of economic development has created 15,100 new jobs in the County since 2013, and unemployment is down to 4%. Similarly, housing values have increased 61% over the past six years.
The County’s positive progress is not limited to the traditional financial indicators; we continue to have safe neighborhoods with the overall crime rate down by 55% since 2010. We also have seen a rise in high school graduation rates by 10%, and have witnessed a decrease in the number of uninsured residents. These measurable outcomes are the result of the resource investment strategy of channeling funding where it can have the greatest impact.
The FY 2018 proposed budget maintains our priority focus on growing the economy, improving academic performance in K-12 education and lifelong educational opportunities, providing safe and environmentally sustainable communities, assisting our residents in achieving healthy outcomes and social well-being, and providing high performing government operations.
The FY 2018 proposed budget includes the following specific proposals and allocations:
HEALTHCARE AND HUMAN SERVICES:
Adhering to the Prince George’s County Charter, the FY 2018 Proposed Budget must be submitted by March 15, 2017 to the Prince George’s County Council. The Council must adopt the FY 2018 Proposed Budget on or before June 1, 2017.