Even after Gov. Dannel P. Malloy’s planned rescissions, the state government budget faces a $44.8 million deficit this fiscal year, according to a report by the comptroller.
The announcement from Comptroller Kevin Lembo on Monday is a reversal from last month where the budget was balanced. The deficit is based off a projected $59.1 million loss in revenue, largely due to fewer federal grants coming to Connecticut, specifically the deferral of Medicaid revenue as a result of the Affordable Care Act.
The $59.1 million loss in revenue will be partially offset by a $14 million decrease in net spending, Lembo said, the result of Malloy’s planned $54.7 million in cutbacks.
The projected deficit amounts to 0.26 percent of the total state general fund budget.
