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 5/10 Good --- blogs.courant.com http://blogs.courant.com/capitol_watch/atom.xml
Tuesday, July 22, 2008 --- 47 days ago http://blogs.courant.com/capitol_watch/2008/07/state-surplus-projected-at-22.htm
| In a surprise to some, Gov. M. Jodi Rell announced Monday that the state is now projected to finish the just-completed fiscal year with a surplus of $22.3 million. That total represented a sharp turnaround from the May projection of a deficit of $19.7 million. The one-month turnaround was $42 million, which budget director Robert Genuario said came from $30 million in spending cuts and $12 million in higher-than-expected tax collections. The state income tax brought in $20 million more than expected in June, but the overall net - including all other taxes - was $12 million more than projected for the month. More calculations will be made in the coming weeks, and the final results for the 2008 fiscal year - which ended June 30 - will not be made until September. "We're not 100 percent out of the woods yet,'' Genuario said. "This is still based on some projections.'' The surplus is a tissue-thin margin, and the state has been teeter-tottering between a surplus and a deficit. "I was concerned it could go either way,'' Genuario said. For further information, see www.courant.com . ... |
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