State Closes 2010 Fiscal Year with $450 Million Surplus

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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.)

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