MD Board Cuts $77M From State Budget - 47 ABC - Delmarva's Choice

MD Board Cuts $77M From State Budget

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ANNAPOLIS, Md. (AP) - The Maryland Board of Public Works has voted to cut about $77 million from the state budget to address underperforming state revenues.
    
The board voted 3-0 on Wednesday for the cuts.
    
The board, which includes Gov. Martin O'Malley, Comptroller Peter Franchot and Treasurer Nancy Kopp, also approved about $7 million in fund transfers to make up for less-than-expected revenue.
    
The cuts come just two days into the new fiscal year. T. Eloise Foster, O'Malley's budget chief, says it's important to address the issue early, because it will better position state agencies to make adjustments.
    
Foster says the cuts add up to about 0.5 percent of the state's general fund.

(Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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