Montgomery County Revenue Authority Publishes FY02 Recommended Operating Budget

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Contact: Marc Atz, 301-762-9080

For Immediate Release: April 30, 2001

Montgomery County Revenue Authority Publishes
FY 02 Recommended Operating Budget

The Montgomery County Revenue Authority published its FY 02 Recommended Operating Budget. The Board of Directors approved an FY 02 budget with recommended revenues and expenditures of $10,265,130 and $7,619,282, respectively, resulting in cash from operations of $2,645,848. In addition, the Revenue Authority will generate $298,000 in interest income, pay out $1,537,570 in debt service and cover an estimated $3,114,400 in capital expenditures less $2,441,500 in debt financing, resulting in net cash flow of $733,378.

Recent changes to the law creating the Revenue Authority, Chapter 42 of the Montgomery County Code, included a provision requiring the Revenue Authority to publish its operating budget. In addition, it is a major objective of the Revenue Authority to improve the quality of information about the organization and the responsiveness to the needs of the community.

The Montgomery County Revenue Authority’s Year 2000 Annual Report and its FY 02 recommended budget is available by contacting the Montgomery County Revenue Authority at (301) 762-9080. The Board of Directors would like to receive any input about the budget by May 31, 2001, so that final decisions can be made prior to the beginning of the fiscal year on July 1, 2001.

For more information or to provide input, please contact Marc D. Atz, Executive Director, Montgomery County Revenue Authority, 101 Monroe Street, Suite 410, Rockville, MD 20850 or by telephone at (301) 762-9080.

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