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Lembo: Connecticut Projected To End Year With $126 Million Surplus

Connecticut Comptroller Kevin Lembo (file photo)
Bob Child
/
AP
Connecticut Comptroller Kevin Lembo when he served as the state's health advocate in 2009.

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.

Davis Dunavin loves telling stories, whether on the radio or around the campfire. He started in Missouri and ended up in Connecticut, which, he'd like to point out, is the same geographic trajectory taken by Mark Twain.