Title
AN ACT CONCERNING SUPPLEMENTARY APPROPRIATIONS for the purpose of declaring additional revenue and appropriating to the General Fund to provide for costs that were not anticipated and included in the Approved Fiscal Year 2027 Budget
Background
This legislation provides additional appropriation authority totaling $20,000,000 in the General Fund. The additional resources will increase the Fiscal Year 2027 General Fund Budget from $5,005,350,700 as expressed in CB-58-2026 to $5,025,350,700. The legislation appropriates additional Other Financing Sources - Unassigned Fund Balance ($20,000,000) as a revenue source.
This legislation includes a one-time adjustment of $20,000,000 to pay a portion of the Board of Education’s teacher retirement liability on behalf of the Board of Education to the State of Maryland. This adjustment would be appropriated in the County’s Non-Departmental appropriation which already includes $17,963,400 in FY 2027 as mandated by the State. The County would pay an additional $20 million to the State. The additional $20.0 million payment made by the County will allow the Board of Education to redirect $20.0 million that previously earmarked toward their teacher retirement cost to fund various strategic initiatives to accelerate student achievement in targeted areas.