Ch. 202                                    2003 LAWS OF MARYLAND

SUPPLEMENTAL BUDGET NO. 1 - FISCAL YEAR 2004

March 14, 2003

Mr. President, Mr. Speaker,

Ladies and Gentlemen of the General Assembly

Pursuant to the authority conferred on me by Article III, Section 52, Subsection
(5) of the Constitution of Maryland, and in accordance with the consent of the (House
of Delegates) - (State Senate), duly granted, I hereby submit a supplement to House
Bill 40 and/or Senate Bill 55 in the form of an amendment to the original budget for
the Fiscal Year ending June 30, 2004.

Supplemental Budget No. 1 will affect previously estimated funds available for
budget operations as shown on the following summary statement.

SUPPLEMENTAL BUDGET SUMMARY

Sources:

Estimated General Fund unappropriated balance
July 1, 2004 (per Original Budget)                                                               4,710,837

Adjustment to balance

Decrease FY 2003 Higher Education reduction        -8,850,000
Decrease FY 2003 transfer from the Dedicated

Purpose Fund                                                            -77,500
FY 2003 Transfer from Revenue Stabilization

Fund                                                                     106,132,000

FY 2003 Transfer from MCO Incentive Fund             1,700,000

FY 2003 Transfer from Universal Service Fund         3,000,000
Increase FY 2003 revenue from Maryland

Environmental Service                                   _______63,316

Adjustment to revenue
General Funds
Adjustment to FY 2003 Revenue                      -106,132,000

Adjustment to FY 2004 Revenue                      -111,887,000

Adjustment of Video Lottery Terminal

Revenue                                                          -230,000,000

Corporate Filing Fees                                            85,000,000

Special Funds:

D38301 Local Funds for Statewide Voting

System                                                                  2,436,942

X00301 Annuity Bond Fund                                192,235,009

101,967,816

-363,019,000

194,671,951

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