State on track to end 2015 in the red

HARTFORD, Conn. – Connecticut is on track to end fiscal year 2015 with a $70.9 million deficit, according to state Comptroller Kevin Lembo.

But Lembo cautioned that revenue that comes in through the end of August will be applied to the 2015 deficit, so there’s a chance the final number will improve.

Ben Barnes, secretary of the Office of Policy and Management, estimated at the end of July that the state could realize an additional $900 million in revenue through August 7.

The state won’t officially close the books on 2015 until September.

Lembo also noted that if there is a deficit at the end of August, it will be closed with money from the rainy day fund.

See the complete story at CT News Junkie.