Expert: Rhode Island facing $160M budget deficit
PROVIDENCE, R.I. (AP) — A legislative financial adviser says Rhode Island is headed toward a $160 million deficit budget over the next 19 months.
WPRI-TV reports that House fiscal adviser Sharon Reynolds Ferland told the House Finance Committee on Thursday that she and her staff estimate the state is on pace for a $48 million deficit in the 2018-2019 fiscal year followed by another $112 million in the 2019-2020 budget year.
Currently, the federal government covers $3.2 billion of the state’s $9.6 billion budget.
State revenue is expected to expand but state agency costs continue to rise. Ferland cautioned against mismanaging funds in some agencies.
Democratic Gov. Gina Raimondo is scheduled to release her budget plan on Jan. 17.
Information from: WPRI-TV, http://www.wpri.com