Connecticut”™s revenues should remain stable and its emergency budget reserve, or rainy day fund, should grow in the upcoming fiscal year, according to the latest projections by the Office of Policy and Management and the Office of Fiscal Analysis.
The rainy day fund, which stands at $2.5 billion, is projected to grow to $2.76 billion. Should that amount rise to roughly $3 billion, representing 15% of annual operating costs, the state would be required to use the excess to reduce its pension debt.