Comptroller Sean Scanlon released his first monthly financial and economic update and outlook since he took office last month, projecting a Fiscal Year 2023 General Fund surplus of $1.3 billion.
But despite his robust projection, Scanlon warned against deviating from the strategy that helped to reverse years of budget deficits.
“The fiscal guardrails we have in place in Connecticut have empowered us to weather recent economic volatility,” said Scanlon. “And while the effects of the pandemic and inflation can still be felt, I am optimistic to see that we are on the path to continue making historic payments towards our pension funds that will save future generations millions. This is not the time to disregard the fiscal discipline measures that have put us on track to have a fifth consecutive budget surplus; instead, I urge the legislature to reinforce them.”
