COMPTROLLER LEMBO PROJECTS MORE MODEST SURPLUS FOR FISCAL YEAR 2019
Budget November 1, 2018 Comptroller Kevin Lembo, after reviewing the latest revenue and spending trends, issued his monthly updated
projection today for Fiscal Year 2019, saying the state is on track to end with a smaller surplus of $157.8 million.
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Comptroller Kevin Lembo today said that there are reasons for cautious optimism that the state could
end Fiscal Year 2019 with a modest surplus of approximately $164.2 million if some early positive indicators continue throughout the year.
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The state has initiated a lawsuit alleging violations of the Connecticut False Claims Act orchestrated through a kickback pyramid scheme involving a Florida-based compounding pharmacy and several individuals, including former and current Connecticut state employees, whose prescription drug costs are covered by the taxpayer-funded Connecticut Pharmacy Benefit Plan, Attorney General George Jepsen said today.
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Comptroller Kevin Lembo, in his first report on the outlook for Fiscal Year 2019,
said that the state budget is on track to end the year approximately in balance.
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Comptroller Kevin Lembo today projected a Fiscal Year 2018 deficit of $504.6 million, an
improvement of $89.9 million over last month’s projection due to a combination of spending restraints
and increased revenues.
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Comptroller Kevin Lembo, reaffirming his statement last week in opposition to a proposal
to borrow $10 million to pay for a study of electronic tolling,
voted against the measure as a member of the State Bond Commission today.
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Comptroller Kevin Lembo today projected a Fiscal Year 2018 deficit of $594.5 million, which is lower than earlier recent projections due to a combination of lower agency spending and a net improvement in revenues.
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"The decision begins the unraveling of rights and protections that hold up Connecticut’s middle class
– hitting hardest our public safety workers, including police and firefighters, our educators and our health care
workers, and so many others struggling to earn a living wage," Lembo said.
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Comptroller Kevin Lembo announced today that he has called on Connecticut's few remaining non-participating
quasi-public agencies to voluntarily provide his office with checkbook-level
financial data to incorporate in OpenConnecticut, the state's comprehensive financial transparency website.
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Comptroller Kevin Lembo today announced the launch of a new "DIY (Do-it-Yourself) Revenue Calculator"
– an online tool that allows the public to calculate the approximate impact tax
changes would have on overall state revenue, and then share visualizations of those possible changes.
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Comptroller Kevin Lembo issued a statement following the release today of a report by the U.S.
Department of Health & Human Services Office of the Inspector General (OIG) that reveals troubling details about the
crisis of skyrocketing prescription drugs and the long-term implications for taxpayers and patients.
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Comptroller Kevin Lembo today released his latest monthly financial projection, reporting that
Connecticut is on track to end the current fiscal year with a $721-million deficit that reflects the
results of the recent bi-partisan budget agreement.
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Comptroller Kevin Lembo announced that An Act Concerning Prescription Drug Costs is now state law in Connecticut
with Gov. Dannel P. Malloy's signature today, establishing new groundbreaking transparency requirements for
pharmaceutical corporations when drug prices skyrocket.
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Comptroller Kevin Lembo today praised the state Senate for unanimously approving legislation that will
establish new groundbreaking transparency requirements for pharmaceutical corporations when drug prices skyrocket.
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Comptroller Kevin Lembo today, following an updated consensus revenue forecast, projected that Connecticut is
on track to end the current fiscal year with a $386.7-million deficit even as the state’s Budget Reserve
Fund (BRF), essentially the state’s savings account, grows.
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State Comptroller Kevin Lembo issued a statement on a report released this week
by ConnPIRG Education Fund that ranks Connecticut among
the top states in online access to government spending data.
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State Comptroller Kevin Lembo said a report issued today by the Auditors of Public Accounts
demonstrates the overdue demand for an accurate and independent review of the hundreds of millions of
dollars invested every year in economic incentive programs.
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Universal Health Care Foundation of Connecticut released the results of a poll that shows state residents'
concerns about prescription drug affordability and bipartisan support for government action. The poll was conducted
by Altarum's Healthcare Value Hub in early February. Over 900 Connecticut adults responded.
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Comptroller Kevin Lembo today projected that the state is on track to end the fiscal year with
a $197.7-million deficit, but said there are factors that demand watch,
including April receipts and significant growth in Wall Street bonuses over the last year.
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State Comptroller Kevin Lembo and State Rep. Sean Scanlon (D-Guilford), House Chairman of the Insurance
and Real Estate Committee, today unveiled a major piece of legislation that, for the first time,
creates transparency for pharmaceutical drug pricing in Connecticut.
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Comptroller Kevin Lembo today released a letter to CVS Health – the state’s pharmacy benefit manager (PBM) – that questions whether the company’s financial interests motivate decisions to include certain pharmaceuticals on its approved drug list over the interests of those patients covered by the state health plan.-- read more
This legislation seeks to overcome the damaging consequences of recent federal tax changes that
grossly deepen the divide between what Connecticut is forced to pay in federal taxes over what
states like Mississippi, West Virginia and the Carolinas pay.-- read more
Comptroller Kevin Lembo today announced that a retirement backlog that has plagued the state for decades –
spanning at least three administrations, undermining retirement administration efficiency and costing millions
in interest over the years – has been eliminated.
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Comptroller Kevin Lembo is meeting today with U.S. Labor Secretary
R. Alexander Acosta as part of a multi-state coalition of states leading the way on retirement security
and urging the federal government to protect state rights to address a growing retirement savings crisis.
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Comptroller Kevin Lembo announced today that the state is on track to end Fiscal Year 2018 with a $244.6-million
deficit as a deficit mitigation plan proposed by the governor awaits action by the state legislature.
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"Today's announcement - that Connecticut and its northeast neighbors will not tolerate federal taxation
that grossly and disproportionately burdens our states over most others
- is an important step and I commend Governors Malloy, Cuomo and Murphy for their action.
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"As our state struggled to emerge from an era of corruption and abuse of public trust,
Treasurer Denise L. Nappier made history as the nation’s first African-American woman elected
state treasurer and the first woman elected treasurer in Connecticut's history.
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Comptroller Kevin Lembo announced today that the state is on track to end Fiscal Year 2018 with a $224-million deficit,
and he warned about long-term ramifications of a new federal tax law that will disproportionately shift an even greater
share of the federal tax burden on high-income states like Connecticut.
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Comptroller Kevin Lembo today announced that his office, in partnership with the state's Health Care Cost
Containment Committee (HCCCC), has initiated a measure to block the unnecessary use of outrageously expensive
specialty drugs - and is urging the Office of the Attorney General to investigate the alleged possible
relationships between a drug manufacturer and its top dispensing pharmacies and prescribers.
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Comptroller Kevin Lembo today projected that the state is headed for a $207.8-million deficit for Fiscal Year 2018
- an amount that triggers a state requirement that the governor submit a deficit mitigation plan to the legislature
because it exceeds one percent of the state's total net General Fund appropriations.
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"The Federal Communications Commission’s announcement today that it plans to dismantle landmark regulations that protect Americans’ equal access to the Internet is a deeply troubling reversal that benefits
the powerful few over millions of Americans, particularly working families and small businesses.
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"This agreement is bittersweet - finally delivering relief, but far too late
for hundreds of thousands who unacceptably faced disrupted health care. As administrator of the state's largest
employer health plan, I'm grateful to see a resolution, but we must now focus on preventing future disruptions to
health care. This case of contract gridlock demands legislative action to protect patients and require
mandatory arbitration when large corporations fail to responsibly reach timely agreements."
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Comptroller Kevin Lembo, in another communication directed at patients
disrupted by Anthem Blue Cross and Blue Shield's (Anthem) and Hartford HealthCare Corporation's (HHC)
unacceptable contract standoff, directed health plan members
to alternative providers and recommended protections against financial risks. -- read more
On behalf of some of the largest employers in Connecticut and the region - with approximately 300,000 covered lives
- we urge an immediate end to the ongoing disruption to health care access that has resulted from Hartford HealthCare's
and Anthem's failure to resolve this contract dispute in a timely and responsible fashion. -- read more
Comptroller Kevin Lembo today said that (based on revenue and spending through Sept. 30)
the state remained on track to end the current fiscal year with a $93.9-million deficit under
the provisions of the Governor’s Executive Order Resource Allocation Plan. -- read more
Comptroller Kevin Lembo today said the state, still absent a budget for
Fiscal Year 2018, remains on track to end the year with a deficit of $93.9 million under the provisions
of an executive order by the governor. -- read more
Comptroller Kevin Lembo announced today that he has urged Anthem Blue Cross
and Blue Shield and Hartford HealthCare Corporation (HHC) to immediately negotiate a fair contract agreement
to avoid potentially devastating interruption to health care access and significant financial distress for
hundreds of thousands of Connecticut residents. -- read more
Comptroller Kevin Lembo today said the state, absent a budget for Fiscal Year 2018, is on track to end the year with a deficit of $93.9 million under the provisions of an executive order by the governor.-- read more
Comptroller Kevin Lembo today said the state is now on track to close the 2017 fiscal year with a small surplus – but warned that it’s based on volatile revenue, including the inheritance and estate tax, and program cuts that may have long-term economic ramifications.-- read more
Comptroller Kevin Lembo today praised a declaratory ruling by the Commission on Human Rights and Opportunities (CHRO) that upholds his recommendation to bar the American Family Association (AFA) from the State Employee Charitable Campaign for violating Connecticut’s anti-discrimination law.
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Comptroller Kevin Lembo today said that the state, despite mitigation efforts - including revenue transfers and
spending reductions - is still on track to close Fiscal Year 2017 with a deficit of $107.2 million.
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Comptroller Kevin Lembo said that Senate Republicans knowingly blocked legislation necessary to continue operating the Connecticut State Employees Campaign for Charitable Giving (CSEC) –
a program that delivers millions of dollars to charities helping people across the state.
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Comptroller Kevin Lembo, joined by a broad coalition of open government advocates,
praised the state Senate today for unanimously supporting Lembo's proposal to better analyze
Connecticut's economic development investments so they bring the greatest return.
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Comptroller Kevin Lembo today said Connecticut - for the sake of its environment and economic future -
must join the growing bipartisan coalition of states, cities, business
leaders and academic institutions that pledge to uphold the Paris Climate Agreement.
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COMPTROLLER LEMBO: CT NEEDS A PUBLIC OPTION AND MEDICARE FOR ALL TO MAKE HEALTH COVERAGE
MORE AFFORDABLE Legislation | May 24, 2017 As the Congressional Budget Office today releases estimates on the cost of the Republican health
care plan that threatens health care coverage for millions in Connecticut and across the country, Comptroller Kevin
Lembo is calling for an expansion of the federal Medicare program
providing health care for seniors and a state effort to create a public option.
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COMPTROLLER LEMBO REPORTS $393.4-MILLION DEFICIT AFTER CONTINUED INCOME TAX EROSION Budget | May 2, 2017 Comptroller Kevin Lembo today announced that continued erosion of the state income
tax – likely due to a combination of investors relying more on tax-friendly investment funds, an economic
trend towards lower-paying jobs and population loss – has increased the current fiscal year deficit to
$393.4 million..
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COMPTROLLER LEMBO PROJECTS $11.8-MILLION SURPLUS WITH CAUTION Budget | MARCH 1, 2017 Comptroller Kevin Lembo today announced that the state is currently on track to end
the fiscal year with an $11.8-million surplus, but Lembo warned that this surplus relies on an optimistic
view that final income tax payments in April will outperform estimated income tax payments collected so far.
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COMPTROLLER LEMBO
STATEMENT ON ADOPTION OF PENSION FUNDING REFORM Budget | FEBRUARY 1, 2017 Today, the legislature took an important step in stabilizing Connecticut's
finances and setting the state on a more predictable path forward. I'm grateful for the senators and representatives
that understood the urgency and need of this agreement and for the work of Governor Malloy, SEBAC, Treasurer
Nappier and others who acknowledged the seriousness of this and made it a priority.
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COMPTROLLER LEMBO STATEMENT ON
REPUBLICAN OPPOSITION TO PENSION FUNDING REFORM Budget | FEBRUARY 1, 2017 It has been 462 days since the conversation about pension funding reform
began in earnest. When I raised issues with the governor's original proposal, I
crafted one of my own. That was released 384 days ago. The effort by
Republicans in the legislature to abandon this deal at the 11th hour in search of
an alternate solution that doesn't exist is disingenuous and a gross abdication of
duty.
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COMPTROLLER LEMBO PROJECTS $8.7-MILLION SURPLUS WITH CAUTION Budget | FEBRUARY 1, 2017 Comptroller Kevin Lembo today announced that the state is currently on track to end the
fiscal year with an $8.7-million surplus, but he warned that this projection is based on consensus revenue estimates
that rely on the optimistic view that final income tax payments will perform better than estimated income tax
payments have performed so far.
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HARTFORD COURANT OP-ED: WITHOUT DEAL, PENSION COSTS WILL CRUSH US Pension | JANUARY 3, 2017 Connecticut's unfunded pension liabilities are a crushing debt that increasingly crowd out other state budget priorities and remain a top concern for businesses when deciding whether to invest here and hire more workers.
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COMPTROLLER LEMBO PROJECTS $42-MILLION DEFICIT Budget| NOVEMBER 1, 2016 Comptroller Kevin Lembo announced today that his analysis of recent spending data
indicates that the state is currently on track to end the year with a $42-million deficit.
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COMPTROLLER LEMBO
REPORTS $315.8-MILLION DEFICIT FOR FISCAL YEAR 2016 Budget| July 1, 2016 Comptroller Kevin Lembo today reported a $315.8-million
deficit for Fiscal Year 2016, pending final budget accruals – but noted that while global factors have
contributed to additional market volatility, there are some bright spots among Connecticut’s economic indicators.
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NEW REPORT: Connecticut Receives "A+" in Annual Report
on Transparency of Government Spending
Transparency| April 28, 2016 Connecticut received an A+ when it comes to government spending transparency,
according to "Following the Money 2016: How the 50 States Rate in Providing Online Access to Government
Spending Data," the seventh annual report of its kind by Connecticut Public Interest Research Group
Education Fund. Connecticut's near-perfect score makes it a leader in state spending transparency nationally. -- read more
Comptroller Kevin Lembo announced today that spending reductions
and transfers adopted by the legislature this week provide the necessary tools to eliminate this fiscal
year's $220-million deficit - however, he warned about
possible further revenue erosion and other risks related to moderate national economic growth.
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Comptroller Kevin Lembo today announced that the Office of the State Comptroller was nationally recognized with a 2016 Eddy Award for the successful conversion of its retirement savings plan administration.
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Comptroller Kevin Lembo, in testimony submitted to the state legislature’s Finance, Revenue and Bonding Committee today, said that businesses and all taxpayers deserve the most efficient and effective analysis of whether hundreds of millions of dollars in economic incentives provided to businesses are fulfilling their intended purpose.
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Comptroller Kevin Lembo, in testimony submitted today, announced his support for an economic development proposal to establish an innovation corridor in Connecticut where private health, bioscience and related industries could improve access to competitively priced ultra-high-speed broadband networks and other technological needs.
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Comptroller Kevin Lembo announced today that, in written testimony submitted to the state legislature’s Appropriations
Committee, he urged improved access to public universities’ financial information, including budget, spending and revenue.
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Comptroller Kevin Lembo commended the General Assembly’s Labor and Public Employees
Committee for voting in favor of a financially self-sustaining retirement savings program that would serve nearly 600,000
private-sector workers in Connecticut who currently have no access to workplace-based retirement savings. -- read more
Comptroller Kevin Lembo testified today in support of a financially self-sustaining retirement
savings program that would serve nearly 600,000 private-sector workers in Connecticut who currently have no
access to workplace-based retirement savings. -- read more
Comptroller Kevin Lembo announced today that 10 out of 12 Connecticut quasi-public agencies have
officially confirmed that they will voluntarily provide his office with
checkbook-level financial data annually to incorporate in OpenConnecticut, the
state’s comprehensive financial transparency website. -- read more
Comptroller Kevin Lembo, in testimony submitted this week,
announced his support for a state measure to reduce skyrocketing
pharmaceutical drug costs and improve health-care outcomes for patients.
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Comptroller Kevin Lembo, in testimony submitted this week,
his support for a state measure to relieve burdens on small businesses, particularly those owned by veterans.
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Comptroller Kevin Lembo announced today that, as he reported last month, revenue has further
eroded -- bringing the latest projected deficit for the current fiscal year to $219.9 million. -- read more
The Connecticut Retirement Security Board (CRSB) today submitted an implementation plan in the form
of legislation that would establish a state-run retirement savings program for private-sector employees
in Connecticut. -- read more
Comptroller Kevin Lembo, in written testimony
to the state legislature's Public Health Committee today, expressed his support for legislation to establish a state plan
to implement an internship program for adults with autism. -- read more
Comptroller Kevin Lembo announced today that he has called on all of Connecticut's
quasi-public agencies to voluntarily provide his office with checkbook-level financial data annually
to incorporate in OpenConnecticut, the state's comprehensive financial transparency website. -- read more
Comptroller Kevin Lembo, today projected a
$7.1-million deficit for the current fiscal year, agreeing that the state can
achieve its targeted savings on spending, but warning that there is potential
for continued erosion of revenue due to stock market declines and a slowdown in
the global economy. -- read more
Comptroller Kevin Lembo, surrounded by a room full of AARP volunteers at the organization’s Connecticut headquarters in Hartford today, received AARP’s Legislative Achievement Award in recognition of his leadership on retirement savings. -- read more
Comptroller Kevin Lembo, responding to a report on the state’s broadband deficiencies, said that technology infrastructure investment – including both ultra-high-speed broadband networks and data centers – is absolutely imperative to both attract businesses to Connecticut and to keep existing industries from leaving. -- read more
Comptroller Kevin Lembo, after working closely with pension experts and actuaries
to investigate pension reform solutions, has released a detailed analysis of state pension funding options
and offers an evidence-based recommendation using actuarial best practices
that would save the state $1 billion over the current funding methodology.
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Comptroller Kevin Lembo reported today that, after adjusting for
the deficit mitigation requirements adopted by the General Assembly in December,
the state is on track to end the current fiscal year with a small General Fund surplus of $200,000.
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The Connecticut Retirement Security Board (CRSB) today submitted
a report to the General Assembly that says a public retirement program for private-sector
employees is financially feasible under a range of market scenarios and plan designs.
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"The so-called ‘Cadillac tax’ – senselessly deterring employers from offering quality health care benefits and punishing those that do – has rightfully been delayed. This two-year delay is an important first step, and hopefully a prelude to complete repeal of this excise tax. I am particularly grateful to Rep. Joe Courtney for leading this effort."
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Comptroller Kevin Lembo, in
written testimony submitted to the Democratic Steering and Policy Committee for a hearing today, detailed the consequences of a runaway pharmaceutical drug marketplace that threatens to obstruct
patient care and overcome health care budgets across the public and private sectors.
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Comptroller Kevin Lembo reported today that, after accounting for about $102.8 million in rescissions
announced in September and the updated consensus revenue forecast
announced last month, the state is on track to end the current fiscal year with a $122.4-million deficit.
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Comptroller Kevin Lembo this week offered an alternative pension funding proposal for consideration
that has the potential to reduce the volatility of future payments to the pension fund and create a
more manageable schedule for paying down the unfunded liabilities, while also utilizing actuarial best
practices modeled in other states.
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Comptroller Kevin Lembo reported today that, after accounting for
about $102.8 million in rescissions announced in September,
the state is on track to end the current fiscal year with a $118.4-million deficit.
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I applaud the Governor for announcing an action plan to address Connecticut’s immediate and long-term budget challenges.
Refining that action plan – based
on questions that I and others have – will be an important next step. -- read more
State Comptroller Kevin Lembo, in letters today to Connecticut’s broadband providers, called on them to rise to the
challenge and lead the way on investments
to bring affordable high-speed Internet to their entire service areas. -- read more
"The Governor's announcement today - calling for bipartisan state budget meetings -
is the best path forward. Collaboration across branches, politics and agencies ensures
that necessary spending cuts are made only after the most thoughtful and transparent process. -- read more
Comptroller Kevin Lembo today joined employers across the country
to recognize National Retirement Security Week - which runs Oct. 18-24 -
to promote financial literacy and raise public awareness about the need to plan for retirement security. -- read more
FISCAL YEAR 2015 IN REVIEW Budget | October 8, 2015
Comptroller Kevin Lembo today, in a report to Connecticut's federal delegation, detailed the
consequences of a runaway pharmaceutical drug marketplace that threatens to obstruct
patient care and overcome health care budgets across the public and private sectors. -- read more
Comptroller Kevin Lembo announced today that - following announced rescissions -
the state could feasibly end Fiscal Year 2016 with a balanced budget,
though he urged caution in the timing of those $102.8 million in planned cuts. -- read more
Comptroller Kevin Lembo announced today that the volatility
of the financial markets complicates the budget outlook for Fiscal Year 2016 at this early stage,
but said the state is currently on track to end the fiscal year with an $800,000 surplus. -- read more
Comptroller Kevin Lembo today announced that new restrictions he implemented to curb a rapid rise in unregulated compound drug prescriptions through the state health plan have
dramatically reduced state spending – by approximately $2 million per month – on certain questionable medications. -- read more
Comptroller Kevin Lembo this week launched the first in a series
of health consumer awareness campaigns to encourage state employees, retirees
- and all Connecticut residents - to shop smart for health care. -- read more
Comptroller Kevin Lembo today, joined by Waterbury and Department
of Children and Families (DCF) officials, delivered nearly 100 book bags and school supplies to the
DCF Regional Office in Waterbury. -- read more
Comptroller Kevin Lembo announced that the 2015 Connecticut State Employees’ Campaign
for Charitable Giving (CSEC) begins today – featuring a new online donation portal
where state employees and retirees can easily donate online for the first time. -- read more
Comptroller Kevin Lembo announced today that the state is
on track to close Fiscal-Year 2015 (FY 15) with a $70.9-million deficit,
noting that budget accruals will continue through August. -- read more
Comptroller Kevin Lembo today launched "OpenBudget," a new online portal that allows the public to view how state spending
and revenue is tracking against the state's actual budgeted amounts throughout the year. -- read more
Comptroller Kevin Lembo announced that Gov. Dannel P. Malloy, as part of the larger budget document,
has signed his proposal into law to reform the state's Budget Reserve Fund and stabilize Connecticut’s future budgets. -- read more
"What has been apparent to so many for so long has now been affirmed by the court:
the premise that all people are equal and share the same rights and responsibilities. -- read more
"As an early proponent of health-care reform, and as the administrator of the
state's health-care plan, I am pleased with the decision of the U.S. Supreme Court. -- read more
Comptroller Kevin Lembo commended the General Assembly today
for adopting a proposal to reform the state's Budget Reserve Fund and stabilize
Connecticut's future budgets. -- read more
Comptroller Kevin Lembo announced today that, following the updated consensus
revenue forecast released yesterday, the state General Fund is on track to end
Fiscal Year 2015 with a $161.7-million deficit. -- read more
Comptroller Kevin Lembo today launched "OpenCheckbook," a feature that allows the public to search real-time information about who received payments from the
State of Connecticut for goods or services and how much they received. -- read more
Comptroller Kevin Lembo announced legislation today that will establish greater transparency surrounding the hundreds of millions in dollars invested every year in economic assistance programs. -- read more
Comptroller Kevin Lembo today projected a $172.8-million General Fund deficit
for Fiscal Year 2015 – an amount just short of one percent of total appropriations, which would legally trigger a mandatory deficit mitigation plan, but close enough that Lembo recommended deficit
reduction planning with the legislature proceed without delay.
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HARTFORD – The Connecticut Retirement Security Board (CRSB) has received a $250,000
donation from the Laura and John Arnold Foundation to help fund a market feasibility
study of implementing a public retirement program for private-sector employees.
-- read more
Comptroller Kevin Lembo testified before the state legislature's
Appropriations Committee at a public hearing today in support of legislation
that would increase the cap on the state's Budget Reserve Fund - otherwise known as
the "Rainy Day Fund" - to better protect the state budget during economic downturns.
-- read more
Comptroller Kevin Lembo submitted testimony to the state legislature's
Judiciary Committee today in support of protections that ensure safety and
comfort for terminally ill patients and their families.
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Comptroller Kevin Lembo today announced that the state has concluded its
competitive bidding process and selected Anthem BlueCross and BlueShield and
UnitedHealth Group to administer the state's self-insured medical benefits plan
for state employees, retirees and their dependents.
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Comptroller Kevin Lembo, who oversees the state's health care plan,
testified today in support of four legislative proposals to eliminate
inappropriate health care fees and provide patients with greater access
to information about health care costs and quality so that they can make
informed health care choices.
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HARTFORD – The Connecticut Retirement Security Board (CRSB) has concluded
its competitive bidding process and has selected Boston College’s Center for
Retirement Research to conduct a market analysis, and Mercer and Oliver Wyman to
design a retirement program, conduct a financial feasibility study and provide
general consulting services. Each designation is subject to successful contract
negotiations.
-- read more
Comptroller Kevin Lembo today announced that – following a key month for estimated income tax collections
– the state is on track to end the fiscal year with a $101.2-million deficit.
-- read more
Comptroller Kevin Lembo today announced that the state has concluded its
competitive bidding process and selected a new third-party administrator –
Prudential Retirement – to manage the state’s three defined contribution plans.
-- read more
At the invitation of top officials from the Federal Communications
Commission (FCC), a delegation of Connecticut state broadband leaders – Comptroller Kevin Lembo,
state Senator Beth Bye (D-West Hartford), Consumer Counsel Elin Swanson Katz and state Broadband Policy
Coordinator Bill Vallee – are attending today’s
historic FCC vote at an open meeting of the FCC in Washington, D.C.
-- read more
Comptroller Kevin Lembo and Mayor Toni N. Harp today jointly testified on a legislative
proposal - An Act Concerning Gigabit Internet Access - that would support the
development of ultra-high-speed gigabit Internet service statewide.
-- read more
Comptroller Kevin Lembo announced that his office has met with Anthem, Inc.
officials today to discuss remedies for Connecticut consumers - including more
than 180,000 current and former state employees and retirees on the state health plan
- whose information may have been compromised by an extensive cyber-attack.
-- read more
Comptroller Kevin Lembo today reported that – following the latest reductions announced in January – the state is on track to end Fiscal Year 2015 with an $89.4-million deficit.
-- read more
State Comptroller Kevin Lembo and State Treasurer Denise L. Nappier,
as co-chairs of the Connecticut Retirement Security Board (CRSB), announced a request
for proposals (RFP) from vendors to conduct a market analysis and financial
feasibility study on behalf of the board.
-- read more
“The President’s announcement this week – signaling strong support
for broadband initiatives like Connecticut’s – is a pivotal move
towards high-speed, low-cost Internet for all consumers and businesses.
-- read more
Comptroller Kevin Lembo today released a detailed "white paper" - a policy brief
and roadmap that proposes using the state's Budget Reserve Fund to stabilize
Connecticut's future budgets, manage revenue volatility, reduce unfunded
liabilities and put downward pressure on spending.-- read more
Comptroller Kevin Lembo today announced a strategic legislative proposal
to reform the state's Budget Reserve Fund formula - building a "recessionary seawall"
to protect against the need for crisis-driven tax increases and program cuts during
economic downturns, while putting downward pressure on spending during economic surges.-- read more
Comptroller Kevin Lembo today testified before the legislative Bi-Partisan
Roundtable on Hospitals and Healthcare to discuss ongoing investigations into
facility fees and emergency room (ER) charges resulting from health-care
provider consolidations.-- read more
Comptroller Kevin Lembo, Connecticut Consumer Counsel Elin Swanson Katz and
state Sen. Beth Bye (D-West Hartford) today urged all municipal leaders in
Connecticut to act by Friday to join a growing coalition of cities and towns
calling on providers to establish ultra-high-speed gigabit broadband in their
communities.
-- read more
Comptroller Kevin Lembo today announced that - following the latest consensus
revenue forecast by the Office of Policy and Management (OPM) and Office of
Fiscal Analysis (OFA) - the state is currently on track to end the fiscal year
with a $44.8-million deficit.-- read more
Comptroller Kevin Lembo today announced a public hearing as part of
an ongoing investigation into the consolidations of hospitals and other
health care providers and their impact on the state health plan –
particularly the increasing use of "facility fees."
-- read more
Comptroller Kevin Lembo today announced a new request for proposals (RFP) to administer the state's self-insured medical benefits plan for
state employees, retirees, and their dependents.
-- read more
Comptroller Kevin Lembo said early spending and revenue performance continue
to indicate that Fiscal Year 2015 will close with a surplus of approximately
$300,000.
-- read more
Comptroller Kevin Lembo today announced that he is joining a coalition of
employers across the country to recognize National Save for Retirement Week and
raise awareness about the critical need for individuals to save for their
financial future. -- read more
Comptroller Kevin Lembo today confirmed that the state
- through its new pharmacy benefits contract with Caremark- spent $50 million
less in Fiscal Year 2014 than it would have spent under the previous contract
for the same claims, according to an actuarial review.
-- read more
State Comptroller Kevin Lembo and State Treasurer Denise L. Nappier, as co-chairs of the Connecticut Retirement Security Board (CRSB), today issued requests for public comment and information regarding the
feasibility of a state-sponsored retirement plan for private sector employees.
Comptroller Kevin Lembo said early indications are that Fiscal Year 2015 will close with a surplus of $300,000 as the state's
economy continues to post moderate monthly growth...
-- Hartford, CT – New Haven Mayor Toni N. Harp, West
Hartford Deputy Mayor Shari Cantor, Stamford Mayor David R. Martin and state
Senator Beth Bye (D-West Hartford), state Comptroller Kevin Lembo and Consumer
Counsel Elin Swanson Katz today issued a global call for companies and
organizations to develop ultra-high-speed gigabit or “gig” Internet networks in
the three cities.
Comptroller Kevin Lembo today, in his first projection for the new
fiscal year, said the state is on track to end Fiscal Year 2015 with a $300,000 surplus...
Comptroller Kevin Lembo today announced that the state is
currently on track to end Fiscal Year 2014 with a $43.4-million surplus, as
reported last month.
Comptroller Kevin Lembo today launched "Open Connecticut 2.0" – a significant update to the online hub of state financial information that he first launched early last year in an ongoing effort to simplify
and centralize public access to important information about state revenue and spending....
Comptroller Kevin Lembo today announced that the state is currently on track
to end Fiscal Year 2014 with a $504.9-million surplus – a number that could grow following this
month’s revenue collection, barring any last-quarter spending increases.
Comptroller Kevin Lembo today announced that the state has concluded its
competitive bidding process and selected a new dental carrier – Cigna – to solely administer the
state employee and retiree plan at drastically reduced annual costs over the previous dental
contract.
Comptroller Kevin Lembo today announced that the state's outlook for Fiscal Year 2014 continues to grow positive with a current projected surplus of $506.1 million – an increase of $232.9 million over last month.
Comptroller Kevin Lembo today announced that the state's General Fund is currently on track
to end Fiscal Year 2014 with a surplus of $273.3 million – another month of improvement for
the state's short-term outlook, despite a more cautious long-term view.
(HARTFORD, CT) – Governor Dannel P. Malloy, joined by State Comptroller Kevin Lembo
and Department of Economic and Community Development (DECD) Commissioner Catherine Smith,
today signed Executive Order (EO) No. 38 to make information regarding certain economic
assistance and tax credits used to recruit or retain businesses more accessible to
Connecticut residents.
-- read more
Comptroller Kevin Lembo today announced that he has expanded “Open Connecticut” to include financial information on Connecticut’s quasi-public agencies and federal dollars.
(HARTFORD, CT) – Governor Dannel P. Malloy, joined by State Comptroller Kevin Lembo
and Department of Economic and Community Development (DECD) Commissioner Catherine Smith,
today signed Executive Order (EO) No. 38 to make information regarding certain economic
assistance and tax credits used to recruit or retain businesses more accessible to
Connecticut residents.
-- read more
Comptroller Kevin Lembo today announced that - due to increasing state revenue flow and a tax amnesty program --
the state's financial outlook has continued to improve, positioning the state to end
Fiscal Year 2014 with a surplus of $245.9 million.
-- read more
Comptroller Kevin Lembo today announced that the state is currently on track to end
Fiscal Year 2014 with a surplus of $11.2 million based on Generally Accepted Accounting
Principles (GAAP).
-- read more
Comptroller Kevin Lembo today announced that he is joining a coalition of employers
across the country to recognize National Save for Retirement Week and raise awareness
about the critical need for individuals to save for their financial future.
-- read more
Comptroller Kevin Lembo today announced that, while the fiscal year is still young,
the state is currently on track for a $4.4 million
surplus on the basis of Generally Accepted Accounting Principles (GAAP).
-- read more
Comptroller Kevin Lembo announced today a new opportunity
for municipalities to join the state's pharmacy plan - the CT Partnership Pharmacy Plan - and achieve significant savings,
even if they have opted not to join the state's full medical plan.
-- read more
Comptroller Kevin Lembo today announced that the
state’s financial status has continued to improve and that Fiscal Year 2013 will end with a surplus of approximately
$398.79 million. -- read more
Comptroller Kevin Lembo today announced that the
state’s financial status has continued to improve and that, pending final
calculations, Fiscal Year 2013 will likely end with a surplus of approximately
$312.1 million, based on Generally Accepted Accounting Principles (GAAP). -- read more
Comptroller Kevin Lembo and Department of Administrative Services
(DAS) Commissioner Donald J. DeFronzo today announced that ePay – a joint
project that transitions nearly all state employees to paperless digital pay
statements – is complete. -- read more
Comptroller Kevin Lembo today announced that the CT Partnership Plan has just entered its second year, providing health benefits and savings to more towns, cities, boards of education and other public employers in the state.
The CT Partnership Plan (established by state law in 2011) was launched last July to allow non-state governments to join the state health plan. -- read more
Comptroller Kevin Lembo today announced that the state’s financial outlook
has improved and the Fiscal Year 2013 will likely end with a surplus of
approximately $189.1 million, based on Generally Accepted Accounting Principles
(GAAP). -- read more
Comptroller Kevin Lembo today was elected to the Board of Directors of the Connecticut Foundation for Open Government, Inc. (CFOG) following his efforts to promote greater access to state financial information, including state economic assistance programs. -- read more
"I am concerned by the state Senate's failure to raise HB 6566,
An Act Concerning Transparency in Economic Assistance – despite unanimous support by the
House of Representatives, broad public support, bipartisan consensus
and the bill’s clear public policy value. -- read more
Comptroller Lembo today announced that the state's financial outlook has improved
and the Fiscal Year 2013 will likely end with a surplus of approximately $164.8
million. -- read more
Governor Dannel P. Malloy and State Comptroller Kevin Lembo announced another significant
reduction in the state's future unfunded state employee and retiree health care liabilities -- read more
Comptroller Kevin Lembo today announced that the state’s financial outlook has improved and the Fiscal Year 2013 will likely end with a surplus of approximately $150.1 million. -- read more
Comptroller Kevin Lembo today launched a “DIY (Do-it-Yourself) Tax Calculator” -- an online tool where users can calculate the approximate impact tax changes would have on overall state revenue. -- read more
Comptroller Kevin Lembo commended the General Assembly’s Finance Committee for voting today in favor of his proposed legislation that will establish greater transparency surrounding the hundreds of millions in dollars invested every year in economic assistance programs. -- read more
Comptroller Kevin Lembo today announced that an improvement in revenue is shrinking the projected deficit and improving the outlook for the end of Fiscal Year 2013. -- read more
Comptroller Kevin Lembo announced legislation today that will establish greater transparency surrounding the hundreds of millions in dollars invested every year in economic assistance programs. -- read more
