Thanks to one-shots, state on pace to end fiscal year with small surplus
Comptroller Kevin Lembo’s monthly report to the governor predicts that Connecticut will end the fiscal year in June with a general fund balance of $57.2 million, but only thanks to significant borrowing and one-time windfalls from the federal government.
Without the one-shot revenue, the state would be looking at a $2 billion shortfall in the fiscal year that ends June 30.
For those of you keeping score at home, the one-time revenues included $739.6 million in federal stimulus assistance, $646.6 million in Economic Recovery Revenue Bonds, $103.2 million from the rainy day fund, $114.9 million from other non-General Fund sources, and $40 million in charges on electric bills.
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