Big state budget surplus still projected for this fiscal year

HARTFORD — The estimate of the state’s budget surplus for the current fiscal year has been revised downward from last month’s figure, but the operating accounts remain hundreds of millions of dollars in the black, Comptroller Kevin Lembo said Thursday.

Lembo’s office is currently projecting an operating surplus of $242.4 million for the fiscal year that ends June 30, down $12.5 million from last month’s projection.

The projected figure is far better than the $10.5 million surplus that had been projected when the legislature adopted the budget in the spring.

Estimated revenues for the fiscal year have increased by $6.5 million, but expenses have also increased, by $19 million, due primarily to a revised estimate of adjudicated claims costs.

Rea more: https://www.journalinquirer.com/politics_and_government/big-state-budget-surplus-still-projected-for-this-fiscal-year/article_4f4bbf26-053f-11e9-b158-bfbff86f58ca.html