Montgomery County is revising its six-year revenue forecasts down by more than $400 million as income tax revenue lags behind previous projections.
The lower long-term forecast comes after County Executive Ike Leggett called for 2 percent cuts at county departments to address a projected $120 million shortfall in the $5.4 billion fiscal 2018 operating budget.
Leggett said he doesn’t believe county employees should worry about their job security “immediately,” however he did say potential job cuts may need to be considered in a year or two.
In addition to cuts in this year’s budget, the county’s chief administrative officer, Tim Firestine, is asking most departments to identify 3 percent cuts for the upcoming fiscal 2019 budget. Leggett is beginning to formulate the 2019 budget before sending it to the County Council to review in the spring.
Click here to read the rest of the article written by Andrew Metcalf over at Bethesda Beat