Connecticut’s state comptroller says the state is on track to end the fiscal year with a $126 million surplus.
Comptroller Kevin Lembo told Governor Ned Lamont he’s cautiously optimistic about the state’s fiscal outlook. He says there’s about $1.18 billion in the state’s reserve fund.
The projection is about $15 million less than the Governor’s budget plan because of a shortage in an account used for legal claims.
Lembo says trends are positive, but it’s still early, and the state’s budget results are affected by national and state economies. He says the state can’t control for volatility in global financial markets or the U.S. trade war with China.