State budget officials continue to predict a $259.1 million deficit for the current fiscal year that ends June 30. OPM Secretary Ben Barnes said things get better in the next fiscal year.
In his monthly update to State Comptroller Kevin Lembo, Barnes said one of the biggest culprits for the deficit is reduced revenues for the Special Transportation Fund and other higher-than-expected expenses. Unanticipated payouts to people wrongfully incarcerated also contributed to the deficit.
Barnes said in a statement that this fiscal year’s deficit is not a purveyor of future years. “With only 6 weeks remaining in this fiscal year, our cost-savings initiatives have limited time left to make up for our revenue shortfalls,” he said.
Next year, though, he added the budget is “honestly balanced with conservative revenue projections and real cuts to spending on programs.”
