The state’s budget deficit for the fiscal year that ends June 30 climbed nearly 2 percent in the past month, according to projections released Wednesday by the Office of Policy Management.
OPM’s latest projection for fiscal year 2015 is a deficit of $164.9 million, up from $161.7 million last month. The reduction is the result of a downward revision in revenue projections, largely offset by lower spending, OPM said.
The latest projection falls between State Comptroller Kevin Lembo’s May 1 estimate of $161.7 million and the Office of Fiscal Analysis’ April 30 projection of $184 million.
