Comptroller Sean Scanlon Projects $390 Million Surplus
(HARTFORD, CT) – Comptroller Sean Scanlon today, in his monthly financial and economic update, projected a Fiscal Year 2025 General Fund surplus of $390.0 million and a Special Transportation Fund surplus of $156.8 million, both in general agreement with the Office of Policy and Management’s projections.
The decrease in the General Fund surplus, month-over-month, is due to projected expenditures being revised up by $53.0 million this month, while revenue projections remain unchanged. Most of this month’s expenditure increase is related to eight wrongful incarceration claims against the state anticipated to receive legislative approval.
In this month’s Economic Update, the Comptroller breaks down the major role federal funding plays in Connecticut and our economy.
“State finances remain in good shape, but we cannot ignore or sugarcoat the negative impact substantial federal funding cuts will have on Connecticut and our budget,” said Comptroller Scanlon.
Starting in January, the Comptroller’s monthly Economic Update also features a deep dive into different cost drivers impacting Connecticut. This month’s deep dive is on energy.
“I believe a big part of my job as Connecticut’s fiscal watchdog is to go beyond the headlines and help people understand what exactly is causing some of the biggest problems we face,” said Comptroller Scanlon. “I hope that by breaking down, in detail, what’s driving the frustratingly high costs we’re all experiencing, we can focus, in detail, on potential solutions.”
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