Malloy’s office says current deficit has dropped $26 million
In a letter released Tuesday to state Comptroller Kevin Lembo, the Democrat’s Office of Policy Management predicts the fiscal year will end June 30 with a $41.6 million operating deficit. Last month, the shortfall was projected to be nearly $68 million.
The state’s general fund, the main spending account, is typically about $18 billion.
OPM says much of the projected deficit decrease comes primarily from savings in the Judicial Department and fringe benefit costs.
When lawmakers return to the state Capitol in January, they’ll face much larger budget deficits for the coming fiscal year. That’s when there could be a $1.3 billion shortfall.