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Elrich Releases $5.7 Billion FY 2020 Operating Budget; Increases Spending by 2.5%, No Tax Increase

Last week, Montgomery County Executive Marc Elrich released his Recommended Fiscal Year 2020 Operating Budget of $5.7 billion for the year that will begin July 1, 2019. It is Elrich’s first operating budget as since being elected County Executive in November.

According to County officials, the budget was designed to begin to deliver on the promises Elrich made to County residents during his campaign for County Executive. The budget increases County spending for the Montgomery County Public School system by $51.1 million and holds property taxes at the Charter Limit by reducing the tax rate by two tenths of one cent per $100 assessed valuation.

Elrich’s FY20 total budget increases spending from $5.6 billion to $5.7 billion, a 2.5 percent increase.

“I am proposing a substantial down payment on expanding access to quality early childhood education so that Montgomery County’s young children have a future of opportunity regardless of their race or family’s economic circumstances,” said Elrich. “I am increasing our investment in a strong, multimodal transportation system that can serve as the backbone of a growing economy. I am focusing our economic development programs on the small businesses of our County to foster long-lasting wealth for our community.”

“Finally, I am proposing funding changes to correct several long-term structural deficiencies while simultaneously satisfying the County’s longstanding goal to provide 10 percent of total adjusted governmental re