Maryland ended fiscal 2012 with more general fund revenues than projected, but the state’s economy remains fragile, according to Comptroller Peter V.R. Franchot (D).

The fund’s revenues totaled $14.3 billion for fiscal 2012, a figure $229.7 million, or 1.6 percent, higher than was forecast by the state, Franchot announced Thursday.

When adjusted for changing tax rates and distributions, sales tax receipts increased by 2.7 percent and withholding receipts grew by 3.6 percent — signs that growth barely kept pace with inflation, according to Franchot.

“Their revenue figures serve as a snapshot of an economy that remains exceedingly fragile, and they remind us that we must proceed on a prudent fiscal course in the months ahead,” Franchot said in a statement.

Franchot recommended that Gov. Martin O’Malley (D) and state lawmakers commit the state’s $431 million fund balance, which includes the $229.7 million as well as a budgeted reserve, to the state’s rainy day fund.

“I firmly believe this fund balance must be saved and not spent,” Franchot said in the statement.

“At a time when families and businesses are still tightening their belts, cutting expenses and finding ways to do more with less, our state government must demonstrate that same commitment as we move forward.”

— Daniel Leaderman