Spending Affordability Committee Releases FY25 Report For Howard County

HOWARD COUNTY, MD — Howard County’s Spending Affordability Advisory Committee’s has released its report for fiscal year 2025. Read the full report here.

The committee has recommended:

• Developing a budget below projected general fund revenues of $1.44 billion, excluding one-time resources, for FY25 (an increase of only approximately 3.7 percent from FY24). This represents a normalization of annual revenue growth and follows recent peak performances, driven by inflation and one-time federal funding contributions in prior years;
• New authorized general obligation bonds issued in FY25 should not exceed more than $70 million and that the county should strengthen its debt control continuously; and
• A revenue projection of 3.3 percent growth, on average, during FY2026-2030. The county should commission a long-term spending review, which considers both school and general services spending limits based on projected resources as community buildout approaches, in line with the HoCo By Design plan.

"I’d like to thank the members of the Spending Affordability Advisory Committee for the time, effort, and insight they provide to our budget process. As we face an uncertain economic climate, it is important to consider these SAAC recommendations during the development of our FY25 budget this spring," said Howard County Executive Calvin Ball.