HARTFORD – State lawmakers will learn more from Governor Ned Lamont’s budget director and the General Assembly‘s fiscal office about the condition of Connecticut’s budget, including projected deficits.
Office of Policy and Management Secretary Melissa McCaw and Office of Fiscal Analysis Director Neil Ayers are scheduled to present their fiscal accountability reports for fiscal years 2020 to 2024 to members of the General Assembly’s two budget-writing committees Thursday.
OPM has projected Connecticut will finish the current fiscal year with a $19.6 million operating deficit in the state’s main spending account, while OFA has estimated the deficit will be $29.7 million. Both project operating deficits in the future fiscal years as well.
The reports examine other aspects of the budget, including projected borrowing, transportation funding, and major cost drivers affecting state spending.