A county advisory committee is warning Prince George’s officials to cut spending and safeguard reserves in anticipation of escalating budget shortfalls that it projects could balloon to $407 million within five fiscal years.
Increased costs and the rippling impacts of the coronavirus pandemic appear poised to strain the county’s finances for years to come, the Spending Affordability Committee wrote this month to County Executive Angela D. Alsobrooks (D) and County Council Chair Jolene Ivey (D-District 5) in a letter alerting the leaders that they should expect to face a $171 million hole for the budget year that begins July 1.
Prince George’s isn’t alone in grappling with a confluence of challenges from the pandemic recovery, dwindling federal aid and increased expenses, public finance and governance experts said. The state also is facing a round of belt-tightening, as lawmakers’ ambitions collide with lackluster economic growth.
Click here to read the rest of the article written by Lateshia Beachum over at The Washington Post
