Maryland Comptroller of Maryland

The Board approved 83 items representing $1.4 billion in state expenditures, which included various awards to small, minority, and veteran-owned businesses. Key approvals included an $83.8 million contract for runway rehabilitation at BWI Thurgood Marshall Airport, $1.5 million in capital grant funding to plan and redevelop a historic building into the Springsong Museum in Silver Spring, and a Rural Legacy Program grant to acquire a conservation easement in Somerset County.

The Board of Public Works approved 93 items totaling $204.6 million in state expenditures. Significant actions included the approval of a one-year contract extension with Submittable Holdings, Inc. for an emergency loan program, a $500,000 capital grant for the Technology Council of Maryland to purchase lab equipment for BioHub Maryland, and the award of a three-year, $2.4 million contract to nine firms for Title IX consulting and investigation services for the University System of Maryland.

This document reviews the Comptroller's office's achievements over the past three years, guided by a vision to create a more equitable, resilient, and prosperous Maryland. Key initiatives include modernizing IT infrastructure and systems, enhancing data accessibility and transparency, streamlining citizen services like unclaimed property, and promoting economic well-being through programs like the Earned Income Tax Credit. These efforts aim to improve government efficiency, accessibility, and strengthen Maryland's financial backbone.

This document outlines the strategic direction of the Comptroller of Maryland, aiming to transform the agency from passive oversight to proactive stewardship. The plan's overarching vision is to foster a more equitable, resilient, and prosperous state where every Marylander can achieve their full potential. This is pursued through three core priorities: implementing critical agency-wide improvements for enhanced government functionality, utilizing agency resources and expertise to create opportunities for all Marylanders and businesses, and positioning them for long-term economic success through policy, engagement, and modernized tax systems.

The meeting reviewed the findings and recommendations of the revenue monitoring consensus, focusing on the proposed December 2025 forecast, including updated outlooks for FY26 and FY27 general fund revenues. Discussions covered the state's revenue forecasting practices, incorporating current data, year-to-date revenue collections, and projections from economic consulting firms. The forecast for FY26 was estimated at $26.87 million, with an estimated $4.172 billion increase over the fire estimate, representing a growth of 1.4%. Topics included the impact of federal actions, employment data, and adjustments to income tax and production forecasts. The board also addressed the economic instability among middle-income families, the rising cost of living, and the increasing reliance on credit.