Agencies that use special funds also receive a request ceiling from DBM.
The budget, or Governor's Allowance, must be submitted by
the third Wednesday in January or by the 10th day of session if it is the first
year of a new term of office. The budget bill is introduced in both chambers,
The Governor must submit a balanced budget to the
legislature in January of each year for consideration. The budget may be
balanced assuming proposed revenue that currently is not being collected by the
Closeout is the
process of closing the books on a fiscal year (July 1 to June 30). In this
process appropriations are booked as:
Expended (obligation incurred and payment made).
Encumbered (obligation incurred but payment not made).
Reverted (unexpended and unencumbered general funds) or canceled (unexpended and
unencumbered general funds).
State House | 100 State Circle | Annapolis, MD 21401-1925
410-946-5400 | 301-970-5400 | Toll-free in MD: 1-800-492-7122 ext. 5400