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State Comptroller Releases FY 2014 Projections

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Kevin Lembo (Courtesy Office of the State Comptroller)

Kevin Lembo (Courtesy Office of the State Comptroller)

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Although it’s still early in the fiscal year, Connecticut is on track to close FY-2014 with a surplus.

Figures released today by the comptroller’s office show the state a $4.4 million surplus.

Still, Kevin Lembo says there are concerns.

Medicaid spending is always volatile, he said in a letter to Governor Dannel Malloy.

There is also the unknown impact of the Affordable Care Act on Medicaid reimbursements and enrollment for 2014.

Lembo said there are concerns about sales tax revenues falling short of projections.

The comptroller said he will continue to monitor revenue trends and make any adjustments to projections as required.

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