Connecticut Comptroller Sean Scanlon released his first monthly financial and economic update of Fiscal Year (FY) 2024 with a projected General Fund surplus of $390.2 million and a Special Transportation Fund surplus of $204.2 million.
Scanlon estimated that with the end of FY 2023, $1.9 billion will be transferred out of the Budgetary Reserve Fund (BRF) into the State Employees and Teachers’ Retirement Systems, with $1.3 billion being transferred this month and the remainder once the FY 2023 operating surplus is finalized in December.
“As we begin Fiscal Year 2024, Connecticut’s fiscal responsibility continues to create real results, while paying down our pension debt and spurring job growth,” said Scanlon. “I look forward to working with Gov. Lamont and the legislature to ensure we maintain and enact policies that continue to promote prosperity in Connecticut.”
