Connecticut facing potential $42 million deficit

Connecticut

HARTFORD, Conn. (WTNH)  –  The state’s Comptroller is projecting a $42 million deficit based upon his recent analysis of spending data.

Comptroller Kevin Lembo says his projection differs from the Office of Policy and Management’s projection because his office sees certain costs on the spending side – particularly for debt service and adjudicated claims (resulting from the SEBAC vs. Rowland settlement) – growing.    Lembo says he usually agrees with OPM projections and budget management may eliminate the difference but estimated income tax payments are volatile and must be closely watched for deterioration in the state’s revenue outlook.

Lembo says it’s possible that general fund expenditures could be$9.3 million over budget and if that occurs the projected deficit would be closer to $46 million.

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