The Office of Policy Management said its estimate of the state’s fiscal year 2015 deficit jumped 117 percent in the past month.
OPM’s latest projection is a deficit of $132.8 million, up from $61.2 million a month ago.
The $71.6 million increase is largely the result of a $45 million reduction in grant revenue from the U.S. Centers for Medicare & Medicaid Services and an $18 million reduction in projected hospital taxes, due to use of tax credits, OPM Secretary Benjamin Barnes wrote in a letter on Friday to Comptroller Kevin Lembo.
