Read Gov. Dannel P. Malloy’s second budget address:

Mr. President, Mr. Speaker, Senator McKinney, Representative Cafero, my fellow state officials, ladies and gentlemen of the General Assembly, honored members of the Judiciary, members of the clergy, honored guests, and all the citizens of our great state who are watching or listening today, thank you.  Thank you for the honor of inviting me into the people’s House to address you.

Continue reading "Malloy’s 2012 Budget Address: ‘Building An Economic Revival’" »

Gov. Dannel P. Malloy’s fiscal year 2013 budget will increase spending by $329 million, or 1.6 percent over last year bringing the total budget adjustment to $20.73 billion. The additional spending will come from the projected $438.5 million surplus.

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Tags: budget, Mallloy, Ben Barnes, revenue, forecast

(Updated 9 a.m.) Gov. Dannel P. Malloy announced earlier this year that he would hold municipalities harmless and at the same time he would “bend” the Education Cost Sharing formula. Malloy declined to say exactly how he planned to do that Tuesday, but Wednesday morning his office released a statement saying that he plans to pump $50 million in new money into the formula, concentrating the largest share on the lowest-performing districts.

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Tags: education, funding, ECS, municipalities, Malloy

As he prepares his second budget address, this one focused on education reform, Gov. Dannel P. Malloy took a moment Tuesday to put things into perspective.

Continue reading "Education Session Starts Tomorrow, But Budget Questions Remain" »

Tags: education, budget, reform, Lawrence Cafero, Gov. Malloy, Fred Carstensen

State Comptroller Kevin Lembo said he’s anticipating the state will end the fiscal year with a $73.6 million deficit under Generally Accepted Accounting Principles. The estimate represents an erosion of about $82.3 million from last month’s projections.

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Tags: Kevin Lembo, deficit, GAAP, lapse, Ben Barnes

The state’s four year contract with JPMorgan Chase to issue income tax refunds using debt cards will purportedly cost the state about $25,000 a year, but it will save the state about $290,000 a year in administrative costs and bank fees.

Continue reading "Nappier: Debit Cards Will Save $290K" »

Tags: State Treasurer Denise Nappier, debit cards, taxes, income, Kevin Sullivan, Department of Revenue Services

(Updated 10:28 a.m., Tuesday) Department of Revenue Services Commissioner Kevin Sullivan announced a bold initiative Monday, which will give taxpayers an opportunity to receive their income tax refund on a debit card, instead of a check.

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Tags: debit cards, income tax refund, checking, savings, JP Morgan Chase

The Connecticut Community Providers Association called on the state Monday to modernize its “frayed” social safety net, which has suffered from years of flat funding and increased costs.

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Tags: community providers, rescission, social safety net, unfunded mandates, Hugh McQuaid

The state Bond Commission agreed Monday to borrow $291 million to help Jackson Laboratory construct a research lab on the University of Connecticut Health Center campus in Farmington.

Continue reading "Malloy Defends Jackson Borrowing & Fiscal Decisions" »

Tags: Gov. Dannel P. Malloy, Jackson Laboratory, State Bond Commission, Republican

(Updated 5:15 p.m.) The legislature’s nonpartisan Office of Fiscal Analysis concluded Friday that the state employee pension concession deal will fall about $3.1 billion short of the projected $4.8 billion in savings over the next 20 years.

Continue reading "Legislative Analysts Say Malloy Won’t Achieve Pension Savings" »

Tags: Pension, actuary, retirement, McKinney, Cafero, SEBAC, state employees, Ben Barnes