Daily Journal masthead

Comptroller says Connecticut on track to end fiscal year with $115.7 million budget deficit

bug
Share/Save/Bookmark

HARTFORD, Connecticut — State Comptroller Kevin Lembo says Connecticut is on pace to end the 2015 fiscal year with a $115.7 million deficit.

The state's 2016 fiscal year began Wednesday.

Lembo said the final deficit figure for the 2015 fiscal year will be determined later this year, after the state's finances are audited. He said the projection "will undoubtedly undergo further adjustment as accounting corrections continue to be posted after June 30."

Any remaining deficit will be covered by the state's Budget Reserve Fund. The Office of Policy and Management, the governor's budget office, estimates the so-called Rainy Day Fund currently has $519.7 million.

Gov. Dannel P. Malloy made three rounds of mid-year budget cuts to try and eliminate the deficit. In April, he said it was premature to consider tapping reserves.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to info@ap.org and it will be forwarded to the appropriate editor or reporter.


We also have more stories about:
(click the phrases to see a list)

Category:

Follow Daily Journal:

All content copyright ©2015 Daily Journal, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.