Comptroller Sean Scanlon Projects $350.5 Million Surplus
Economic Update focuses on K-12 education funding
(HARTFORD, CT) – Comptroller Sean Scanlon today, in his monthly financial and economic update, projected a Fiscal Year 2026 General Fund surplus of $350.5 million and a Special Transportation Fund surplus of $19.6 million, both in general agreement with the Office of Policy and Management’s projections.
“With a jump in revenues reported last month, our surplus has gone up,” said Comptroller Scanlon. “This positive change helps us do more than just continue to pay down debt; it also allows us to make an even larger contribution to the state’s new early childhood education fund. I believe this dual-track approach–getting our fiscal house in order while also making historic investments in our future–is the right one for Connecticut, and our office predicts we will be able to continue it despite national and global economic uncertainty.”
The projected surplus is $41.4 million higher than budgeted. Increased expenditures for Medicaid and in other categories were offset by revenue increases in personal income-withholding, sales and use, corporation, and public service corporations taxes. Pursuant to Public Act 25-93: An Act Increasing Resources for Students, Schools and Special Education, Comptroller Scanlon currently estimates that $350.5 million will be deposited into the Early Childhood Education Endowment come the end of the fiscal year.
As kids head back to school, this month’s Economic Update analyzes state funding for K-12 education, discussing how support for school districts has changed over time and what’s next for Connecticut municipalities in fiscal year 2027. The deep dive includes an in-depth look at the largest single component of State funding for public school operations, Education Cost Sharing (ECS) grants.
The monthly report also features the latest statistics on the labor market, housing costs, and more.
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