open connecticut Comptroller Kevin Lembo
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State budgets are built on assumptions -- assumptions about how much the state will need to spend on various programs and how much it will collect in tax revenue over the course of a budget year.

The challenge is that these variables may change over the course of a year – in some cases significantly – depending on the economy and other factors that influence state spending and revenue.

For these reasons, the Office of the State Comptroller (OSC) issues regular monthly reports on the state’s finances. The Office of Policy and Management (OPM), which is the governor's budget agency, and the Office of Fiscal Analysis (OFA), which is a non-partisan legislative office, also issue their own independent monthly financial forecasts.

To review the latest monthly financial forecasts from each office, click on the icons below:

Comptroller's Monthly Report OPM Monthly Report

What is Consensus Revenue?
Do-it-Yourself state revenue impact calculator


While the state budgets for the short-term, it is important for the legislature to take a longer-term view of our state’s finances while crafting state policy. The Office of Policy and Management and the Office of Financial Analysis are required to report on state spending and revenue estimates for the remainder of the current fiscal year and the subsequent three fiscal years by November 15 each year. These reports, called "Fiscal Accountability Reports,” provide a snapshot of state finances over the next three fiscal years in the absence of any new policy changes. The reports include:

  • Three years of budget estimates and assumptions for appropriated funds
  • Three years of tax credit estimates and assumptions; Current year deficiencies
  • Three years of projected balance of Budget Reserve Fund
  • Three years of projected bonding and debt service
  • Budget trends and areas of concern
  • Possible uses of surplus funds

Click to read – OFA | OPM