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Connecticut’s rainy day fund hits new $3.03B peak

Lembo also projected Connecticut is heading into Fiscal Year 2021 with a $2.1 billion deficit.

Connecticut’s rainy day fund is helping state stay afloat – but...

Justin Theal, an officer with The Pew Charitable Trusts’ State Fiscal Health team, calls Connecticut “one of the most financially secure states going into the recession.”

State Bond Commission approves $550M to fund numerous CT projects

Meanwhile, State Comptroller Kevin Lembo is projecting the state’s General fund will close Fiscal Year 2020 – which ended on June 30 -- with an operating shortfall of $153.1 million.

CT forecasts $2.7 billion hit to revenues through FY2020-21; Recovery could...

Even with the gloomy forecast -- which Office of Policy and Management Secretary Melissa McCaw said were conservative -- "Connecticut is in a stronger position than most states, thanks to our fiscal prudence and the safeguarding of our budget reserve," according to Democratic state Senate leaders Martin Looney and Bob Duff.

COVID-19 LATEST: Deaths top 100; CT to receive about $1.45 billion...

The $2.5 billion in the state’s Budget Reserve Fund (also known as the Rainy Day Fund) puts Connecticut "in pretty good shape" through at least June 30, said Gov. Ned Lamont. “Obviously, this is the rainy day,” added Secretary of the Office of Policy and Management Melissa McCaw. “We are well-positioned to weather this storm.”

Economic growth, legalizing pot, protecting climate highlight Lamont’s budget

Lamont’s $22.3 budget proposal keeps taxes essentially flat, while projecting a Budget Reserve Fund of $2.8 billion by the close of Fiscal Year 2020.

CT revenues projected to be stable, rainy day fund to grow...

Meanwhile, the state’s budget deficit is projected to grow from about $28 million to roughly $60 million, due in part to its recent settlement with state hospitals.

CT treasurer warns against GOP’s transportation plan as debate over tolls...

Treasurer Shawn Wooden says that the Republicans' proposal "especially in the event of a possible future recession, creates serious liquidity, market and credit risks for the state.”

CT tolls (trucks only) back in play in latest Democratic plan;...

House Democratic leaders have proposed a new plan that would install highway tolls for trucks only on 12 bridges across the state, as opposed to Gov. Ned Lamont’s CT2030 initiative, which would have included tolls on 14 bridges for all vehicles.

Moody’s: Connecticut’s Rainy Day Fund at ‘Highest Ever’

Moody’s said this was a welcome development in view of Connecticut’s fiscal problems.

General fund ends fiscal year with surplus

The state ended the 2013 fiscal year with a $236.6 million general fund surplus, Comptroller Kevin Lembo reported July 1.