ANNAPOLIS, Md. (AP) - Gov. Larry Hogan says Maryland ended the fiscal year with a higher-than-expected budget balance.
Hogan says the state's fund balance is about $295 million.
The Republican says about $84 million of that is from reversions from state agencies. That's $54 million more than previously expected.
Hogan says it's due to more careful management of state spending.
Maryland also benefited from about $214 million in higher-than-anticipated state revenues.
The governor noted the money needs to be used prudently. He says the state still has a $1.7 billion structural deficit over the next four years.
