FY 24 APPROVED OPERATING BUDGET

HIGHWAYS FUND

FINANCIAL NOTES:

FY 23

FY 24

CHANGE EXPLANATION OF INCREASE/DECREASE - REVENUES

3,000,000 4,000,000

1,000,000 STATE HIGHWAYS USERS TAX

Motor vehicle fuel tax, motor vehicle registration fees, a share of the motor vehicle titling tax and a share of the corporate income tax are designated by the State of Maryland as Highways User Revenues. The State shares these revenues with the counties and municipalities to help fund the construction and maintenance of local roads. The distribution to subdivisions is derived from a formula based on locally maintained road mileage and vehicle registrations. Each year the Maryland Department of Transportation's State Highway Administration provides the County with estimates of the Highways User Tax. For Fiscal Year 2024 we are estimating an increase of $1 million over FY 23 estimated revenues for a total of $4,000,000

State Highways Users Tax Trend

4,000,000

FY 24 Estimated

3,000,000

FY 23 Estimated

3,740,575

FY 22 Audited

2,716,511

FY 21 Audited

0

1,000,000

2,000,000

3,000,000

4,000,000

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