State Closes 2010 Fiscal Year with $450 Million Surplus

HARTFORD, Conn (AP) _ Connecticut comptroller Nancy Wyman says the state ended the last fiscal year with a budget surplus of almost $450 million.

Wyman, the Democratic nominee for lieutenant governor, announced Wednesday that the state closed the 2010 fiscal year with a $449.4 million budget surplus. She said the surplus was obtained by using a portion of the state’s Rainy Day savings account and federal stimulus funds and delaying a $100 million payment to the state employee pension fund.

Gov. M. Jodi Rell announced last month that decreased federal funding and increased demand for state social services have led to a projected $63.4 million state budget deficit at the end of this fiscal year, which began July 1.

(Copyright 2010 by The Associated Press.  All Rights Reserved.)

Comments

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS Connecticut

Play for the Knockout Pool to Win $5,000
Play for the Pro Football Challenge to Win $5,000

Listen Live