The Budget and Financial Analysis Division performs the state’s accounting and financial reporting functions and develops and executes the agency budget. The division is responsible for posting, analyzing and reporting state expenditures and receipts by fund and account category inclusive of federal and other funding sources.
Reports
At the comptroller’s direction, the division prepares a monthly analysis of the state’s budget condition that contains the financial statements for the latest month and projections for the budget position to year’s end. Additionally, the division publishes two of the comptroller’s annual financial reports — a budgetary base (modified cash basis of accounting) report that details and analyzes state expenditures, receipts, and capital budget activities for the fiscal year; and an Annual Comprehensive Financial Report (ACFR) prepared in accordance with Generally Accepted Accounting Principles (GAAP) that analyzes the state’s overall fiscal position and provides audited financial statements for state and state-supported fiscal activities.
Latest
Bond Allocation Database
The Bond Allocation Database contains summary information about projects that have been approved by the State Bond Commission at monthly State Bond Commission meetings between January 1995 and the present.
Most of the attention state government finance receives - whether by analysts, the media or the public - is focused on the state's General Fund. In some ways, this is understandable. The General Fund is the state's largest single fund, accounting for about 85 percent of the state's total operating budget. General Fund operations are financed through various kinds of current receipts, that is, revenue that is received and expended in the same fiscal year. Major General Fund revenues include various types of tax receipts, federal grants, and other sources.
At the same time, a significant amount of state spending is financed through borrowing. Even though billions of dollars are involved, these activities have received relatively little public scrutiny. The state issues bonds and receives funds from investors to pay for various projects and programs authorized by legislation. In return, the state pledges to repay investors by making principal and interest payments over a set period of time, ranging anywhere from three to 25 years, depending on the bond.
OpenCT
Open Connecticut centralizes state financial information to make it easier to follow state dollars. Find out where deficits or surpluses come from. Find out how much was paid for a particular vendor or program. Find out what to expect in future years.