State Surplus Projected at $300,000
The state’s financial picture has improved slightly in the last month, according to the latest figures from the state comptroller’s office. Comptroller Nancy Wyman says income and sales tax receipts were up over original protection in the first three months of the fiscal year, resulting in a projected state deficit of $300,000 .
Wyman says even though the payroll witholding portion of the income tax grew by nearly eight per cent the first three months of the fiscal year, state agencies spent more than 233 million dollars more than budgeted…close to three quarters of it for the Department of Social Services.
Wyman says the $300,000 surplus is based on a $19.2 billion dollar state budget for the fiscal year ending next June.