State revenues are up
State revenues are up by $7.6 million over last month, while expenditures are also improving, with the result a nearly $170-million operating surplus in the current $20-billion budget, according to the Office of Policy and Management.
The rosier surplus is a $31.8 million increase over last month, said Ben Barnes, OPM secretary, in a letter to State Comptroller Kevin Lembo, noting that expenditures have improved by $24.2 from last month’s estimate. The $24.2 million improvement combined with the $7.6 million revenue bump, from interest income, adds up to the $31.8-million increase to the surplus.
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