Lawmakers to be briefed on Connecticut’s finances
HARTFORD, Conn. (AP) — Lawmakers will soon receive a briefing on Connecticut’s fiscal situation and what to expect over the next several years.
Office of Policy and Management Secretary Ben Barnes and Neil Ayers, director of the nonpartisan Office of Fiscal Analysis, are scheduled to give a presentation Tuesday on the 2018 Fiscal Accountability Report.
Required by state law, the annual report to the General Assembly’s two budget committees analyzes issues affecting spending and revenue for the current two-year budget and the three succeeding fiscal years. This report addresses fiscal years 2019 to 2022.
The document projects the current fiscal year budget will end June 30 with a nearly $255 million operating surplus, while the state’s budget reserve account is predicted to total $2.1 billion.
The report warns of future challenges, including less federal Medicaid funds.