ANNAPOLIS, Md. (AP) — Gov. Martin O’Malley’s administration has accepted 667 voluntary buyouts from state employees to save about $29 million in the state’s general fund, which is less than the governor had hoped to save.
The administration announced Friday that there were a total of 1,389 applications for buyouts, but only 1,102 could be considered eligible.
O’Malley assumed a savings of $40 million in his proposed fiscal year 2012 budget. The administration says the $11 million variance can be accommodated because the state has a $120 million fund balance.
(Copyright 2011 by The Associated Press. All Rights Reserved.)