FROM THE NEWSROOM: HARTFORD, Conn. (AP) — State Comptroller Kevin Lembo says Connecticut is on track to end the current fiscal year with a $43.4 million budget surplus. In a letter sent Monday to Gov. Dannel P. Malloy, Lembo said revenues which fund the states main spending account, the General Fund, are running $40.6 million below the original budget targets. However, he credited spending controls with keeping the budget in balance. The fiscal year ends June 30. The largest revenue shortfall has been the personal income tax. However, both sales and corporation taxes are exceeding original budget estimates. Lembo said despite Connecticuts struggle to find an expected economic lift, the states economy is improving overall. He pointed to the third consecutive month of employment growth as well as rising home sales.
Posted on: Mon, 02 Jun 2014 16:31:03 +0000
Trending Topics
Recently Viewed Topics
© 2015