Gov. Dannel P. Malloy’s budget office is projecting that the state will end the 2015 fiscal year June 30 with a $164.9 million deficit.
That’s an increase of $3.2 million since the last estimates were released April 30. Since that time revenue has declined $24.3 million, according to Office of Policy and Management Secretary Ben Barnes’ monthly letter to state Comptroller Kevin Lembo.
Barnes said the decrease in revenue is offset by a $21 million improvement — a decrease — on the expenditure side.
“Administrative efforts to reduce the remaining deficit, including heightened scrutiny of position refills and contract requests, continue to be made in an effort to limit year-end expenditures to those that are critical for state operations,” Barnes wrote.
Lembo will certify the budget numbers on June 1, two days before the end of the legislative session.
On May 11, Malloy said he’s not sure the state will end the fiscal year on June 30 with a deficit.
“We will be receiving income into August that actually is accounted for in the June 30th budgetary year, so until such time as I know what we’re actually dealing with, it’s hard to answer that question,” Malloy said.
Malloy has dodged questions about whether he would use the $519 million in the Rainy Day Fund to eliminate the deficit.