HARTFORD — Connecticut Comptroller Kevin Lembo says the state budget is on track to end with a $33.2 million surplus.
While the state’s new fiscal year began on Tuesday, the surplus won’t officially be determined later this year after the state’s books have been audited and closed for fiscal year 2014.
Lembo’s latest projection, released Tuesday, marks a $10.1 million reduction from last month’s estimate. He said state revenues are down from last month, but attributed that decline to outstanding federal reimbursements the state has not yet received.
As required by state law, the budget surplus will be deposited into the Budget Reserve Fund, also known as the Rainy Day Fund.
Lembo said Connecticut’s overall economy “has shown signs of gradual but erratic improvement.”