Per Montgomery County: Montgomery County Executive Marc Elrich today transmitted his $5.4 billion Recommended Fiscal Year 2024 Capital Budget and Amendments to the FY23-28 Capital Improvement Program (CIP) to the County Council. The recommendations are a $136.7 million (2.6 percent) increase from the previously approved capital budget. This is the second year of the County’s two-year capital budget. As a result, adjustments are limited to project changes that either meet the County’s CIP amendment criteria or are necessary to address capital or operating budget constraints. To see the complete recommended FY24 Capital Budget and amended FY23-28 Capital Improvements Program, go to https://www.montgomerycountymd.gov/omb/publications.html
“My FY24 CIP amendment recommendations take advantage of opportunities to leverage significant non-County resources and reflect our broadly shared values of prioritizing education and core infrastructure improvements while considering racial equity and climate change concerns,” said County Executive Marc Elrich. “These amendments are all affordable within available resources. However, high inflation due to supply chain issues, labor shortages and a tight construction market has had a major impact on this CIP proposal. Without more funding, we are limited in our ability to solve local problems and to build the kind of healthy, just, economically vibrant community we want for our residents.”