Connecticut’s fixed costs like Medicaid, debt service and retiree benefits continue to grow faster than state revenue and make up 52 percent of the state’s budget, according to the Office of Fiscal Analysis. In fiscal
office of fiscal analysis
Gov. Ned Lamont submitted a budget proposal on October 1 that draws down Connecticut’s Rainy Day Fund by $1.8 billion, maintains the corporate surcharge tax and implements a hiring freeze to bridge a projected $2
Budget numbers released by the Office of Fiscal Analysis show Connecticut’s budget deficit this year grew to over $1 billion, an increase of more than $687 million over the previous estimate. Gov. Ned Lamont had
The State of Connecticut and municipalities face a substantial burden – and now threat – from pension and retiree healthcare funds, as the stock market has plunged in recent weeks, which could leave taxpayers on
At a press conference before a public hearing on Gov. Ned Lamont’s bill to toll trucks, Senate Republican Leader Len Fasano, R-North Haven, presented the fiscal note for the bill, which states that the revenue
Connecticut’s current year budget deficit increased once again, rising another $66 million over the previous estimate and topping out at $96 million, according to a budget report for the Office of Fiscal Analysis. This marks
In 2008, Connecticut took out a $2 billion pension obligation bond in order to boost its teacher pension fund, which the state had underfunded for decades. The timing was calamitous as the country entered into
A state employee pension fact sheet released by the Office of Fiscal Analysis on Monday showed that, despite efforts to fully fund Connecticut’s state employee retirement system, the funding ratio has dropped from 48 to
Pay increases for state employees outlined in the 2017 SEBAC agreement were projected to cost $353 million annually by the Office of Fiscal Analysis, but emails between former State Senator Len Suzio, R-Meriden, and OFA
The Appropriations Committee today approved $8 million in raises for both licensed and unlicensed child care providers under a union contract with the Connecticut Employees Independent Local 2001 SEIU. Unlicensed providers include family members of