HARTFORD, Conn. – State Comptroller Kevin Lembo certified a $33.2 million surplus Tuesday, but warned that while the 2015 fiscal year officially begins today the final 2014 surplus won’t be determined until later this year after the books are audited.
In his monthly letter to Gov. Dannel P. Malloy, Lembo agreed with Malloy’s budget office and reduced the surplus by $10.1 million from last month’s estimate.
This month’s revenue projection is down $75.5 million from last month — the vast majority related to outstanding federal reimbursements that the state has claimed, but not yet received. The state is actively seeking to recover $65.5 million from the federal government for costs incurred by the Departments of Developmental Services and Mental Health and Addiction Services, Lembo said.
The drop in revenue was offset by a $65.1 million increase in anticipated budget savings, which is money state agencies have promised not to spend.
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