Connecticut’s estimated budget surplus for the recently completed fiscal year continues to bounce around.
The Office of Policy Management said Tuesday that it expects a year-end surplus of $121.3 million for the year ended June 30, due in part to adjustments to Medicaid reimbursements and spending below budgeted levels.
The new number is up from Comptroller Kevin Lembo’s late June estimate of $33.2 million, which was down from $43.4 milion less than a month prior.
Gov. Dannel P. Malloy’s office said a deposit of the surplus into the state’s Rainy Day Fund will bring its balance to a four-year high of $392 million.
