Connecticut Comptroller Nancy Wyman said Monday a sharp rise in receipts of income and sales taxes has produced a modest projected state budget surplus of $300,000 for fiscal 2010-2011 — an improvement of $45 million since last month.
Wyman said the $300,000 surplus is based on a $19.2 billion budget for the fiscal year that ends June 30. Wyman also noted that the budget was partly balanced by borrowing nearly $650 million.
The increase in tax revenues also is being offset by projected state agency deficiencies totaling $233.4 million. The largest single deficiency — $172.5 million — is within the Department of Social Services.
“It is very encouraging to see positive revenue growth, but there are other economic indicators that unfortunately are not so optimistic,” Wyman said.
Â
