Gov. Dannel P. Malloy's budget office is predicting the state will end the current year with a $121.2 million deficit in Connecticut's main spending account.
Ben Barnes, secretary of the Office of Policy and Management, said the latest General Fund deficit projection represents an $11.6 million improvement from last month. A letter from Barnes to Comptroller Kevin Lembo outlining the state's latest financial data was released Monday.
April income tax collections could impact the size of the projected deficit in this year's approximate $20 billion budget. Barnes said tax collection data will be finalized in the next few weeks. He said it could either improve or worsen the deficit situation.
Barnes said the Democratic administration continues to limit year-end spending, including scrutinizing new hiring. The fiscal year ends June 30.
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