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	<title>Cecil Times &#187; Fiscal year</title>
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		<title>CECIL TIMES SPECIAL REPORT: County Budget Bleaker Than Rosy Report to County Council; New Executive Faces Fiscal Challenges</title>
		<link>https://ceciltimes.com/2016/11/cecil-times-special-report-county-budget-bleaker-than-rosy-report-to-co-council-new-executive-faces-fiscal-challenges/</link>
		<comments>https://ceciltimes.com/2016/11/cecil-times-special-report-county-budget-bleaker-than-rosy-report-to-co-council-new-executive-faces-fiscal-challenges/#comments</comments>
		<pubDate>Mon, 21 Nov 2016 22:27:57 +0000</pubDate>
		<dc:creator><![CDATA[Nancy Schwerzler]]></dc:creator>
				<category><![CDATA[Business]]></category>
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		<description><![CDATA[A CECIL TIMES SPECIAL REPORT NEWS ANALYSIS Cecil County’s fiscal picture looked rosier than expected recently as county finance officials presented a detailed accounting of the recently completed budget year and projected a positive forecast for the rest of the current fiscal year. But buried in the numbers were enough caveats and concerns to make even a cheerful Pollyanna reach for a calculator, a crystal ball and a salt shaker. A linchpin of the financial reports, presented to the Cecil County Council on 11/15/16 by county Finance Director Winston Robinson, was a prediction that county revenues from income taxes would continue to rise. However, state budget officials have issued two warnings in recent months that state revenues from income taxes would be lower than expected for the rest of the current budget year and next year—and as a result, Governor Hogan has scaled back on state spending and tax cut plans. The state collects a local income tax for Cecil and other counties as a “piggyback” on top of state income taxes. In Cecil County, even higher than expected local income tax money received just a few months ago has already been mostly wiped out by higher costs for county [&#8230;]]]></description>
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