Connecticut’s 2017 deficit on track for $107.2 million

- FILE - Connecticut Governor Dannel Malloy (WTNH)

HARTFORD, Conn. (AP) — State Comptroller Kevin Lembo says Connecticut is on track to close out the last fiscal year with a $107.2 million deficit.

In a letter released Monday to Democratic Gov. Dannel P. Malloy, the Democratic comptroller says Connecticut is expected to have $128.38 million left in its budget reserve fund after covering the red ink. Fiscal year 2017 ended on July 1.

The new two-year budget is projected to be $5 billion in deficit.

Lembo says “long-term planning must be a priority to prepare for ongoing uncertainties and developing trends,” referring to things like a potential stock market disruption and a statewide decline in population. He says Connecticut lost 8,278 residents between July 1, 2015 and July 1, 2016; one of eight states to experience a population drop during that period.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s