Report on State of CT Finances
#HARTFORD, CT – The Office of Policy and Management today released the annual Fiscal Accountability Report. The report describes factors affecting Connecticut’s budget this year through 2018. The report indicates that a $99.5 million deficit would be projected for FY 15 should the State not take any administrative action to manage it. That action has already begun – OPM Secretary Ben Barnes has written to state agencies, asking them to reduce expenditures and curtail hiring. OPM is also developing allotment rescissions that will reduce spending. Barnes said “This is consistent with what the administration has been saying – that no matter what the projections are we will manage and administer the budget so that there will be no deficit. It is…
