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.)


More From CBS Connecticut

Win Red Sox Tickets All Season
Price Chopper Supermarkets Presents Retail Food Rescue Program

Listen Live