Seal of the  State of Connecticut, Office of the State Comptroller

STATE OF CONNECTICUT

NANCY WYMAN
COMPTROLLER

OFFICE OF THE STATE COMPTROLLER
55 ELM STREET
HARTFORD, CONNECTICUT 06106-1775

MARK OJAKIAN
DEPUTY COMPTROLLER

WYMAN SAYS BUDGET DEFICIT HOLDS AT $84.8 MILLION
Contact: Steve Jensen
860-702-3308

State Comptroller Nancy Wyman today said the state's budget deficit remains steady at $84.8 million.

Although collections of the income tax have risen in recent weeks, Wyman said, those gains are being negated by government expenditures that continue to exceed original estimates.

The largest budget overruns are in the Department of Social Services and the Department of Children and Families. Higher health care costs and provider rates and additional staffing requirements have produced a combined deficiency of more than $50 million between the two agencies.

Total state spending for the year is approximately $85 million over budget.

"I am concerned that agency deficiencies will continue to grow and that the recent spike in tax revenues will not be sustained in the second half of the fiscal year," which ends June 30, Wyman said.

The state has lost about 9,000 payroll jobs this fiscal year, and the employment picture remains erratic. Wyman said she also projects that the savings targets for the state's recent early-retirement program will not be met as the vacated positions are refilled.

Wyman's $84.8 million deficit projection is roughly double the $41.7 million estimate made by the Governor's budget office late last month. Both estimates are based on an overall state budget of about $13.5 billion for fiscal 2004.

The State Comptroller appreciates input on this and other issues from residents of the state. Please feel free to contact her office by phone - (860) 702-3300; mail - OSC, 55 Elm Street, Hartford, CT 06106; or, via E-mail - osc.opinions@po.state.ct.us

Learn more about the Connecticut Comptroller's Office by calling up our Internet Home Page, at the link below.

For Immediate Release
March 1, 2004

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