State Comptroller Kevin Lembo said Monday that he projects the state’s current fiscal year budget surplus remains at $43.3 million.
In his monthly letter to Gov. Dannel P. Malloy, Lembo said revenue is running approximately $40.6 million below original budget targets, but he said spending controls have helped cover the difference.
General fund expenditures for the fiscal year that ends in late June are expected to be $79.6 million below the original budget plan.
In particular, the income tax is underperforming, by approximately $176 million, Lembo said.
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Meanwhile, the sales and corporation taxes are exceeding targets by a total of $108.1 million, he added.
