MENU

CONNECTICUT

Connecticut

  • In The News
  • Background
  • Issues
  • Solutions
  • Pensions
  • Commentary
    • Budget timeframe: Biennial


      Fiscal Year begins: July 1

      The current state budget can be found here and find the FY2013 supplemental budget here.


      Find the legislative session calendar here.


      Find the current legislative leaders here.

       

      CT Gov Malloy

      Gov. Dannel "Dan" Malloy
      210 Capitol Avenue
      Hartford, CT 06106
      Phone: (800) 406-1527
      Fax: (860) 524-7395

       

       

       

      Benjamin Barnes, Secretary of Policy & Management
      Office of Policy & Management
      450 Capitol Avenue,
      MS 53 BUD
      Hartford, CT 06106-1308
      Phone (860) 418-6200
      Fax: (860) 418-6487
      www.opm.state.ct.us
      robert.genuario@ct.gov

       

       

      Want a more robust, long-term look at your state's fiscal health, beyond the budget? There are two parts: Click here for the FY2011 Comprehensive Annual Financial Report (CAFR) compiled by the state government, and click here for information on the state's pension liabilities

       

      Ct State sealConnecticut is required to pass a "balanced budget." Article XXVIII to amend the 1965 Constitution states that the "amount of general budget expenditures authorized for any fiscal year shall not exceed the estimated amount of revenue for such fiscal year." Moreover, Section 2-35 of state law requires an estimate of the revenue for each fund from which money is appropriated. The statute then requires that the estimated revenue going into the fund cannot be less than the moneys being appropriated out of the fund. Section 4-72 charges the governor to match revenues with expenditures.

       

      Connecticut law allows the carrying over of a deficit from one year to the next. Connecticut budgets for two years at a time, and then evaluating and adjusting the budget midway through. Connecticut has an Office of Policy and Management, which is responsible for keeping an eye on the State's fiscal health.

       

      Connecticut reports the following major funds: General, Debt Service and Transportation Funds. The budget is prepared on a "modified cash" basis of accounting under which revenues are recognized when received, except for certain taxes which are recognized when earned. The State budgets the following funds: General fund, Transportation fund, and Special Revenue funds (which is comprised of 8 lesser funds with no "total" columns). Budgetary Comparison Schedules are missing beginning and ending balances. It is unclear how many of the governmental funds are actually budgeted, but the noticeable difference between budget and actual figures would lead us to believe that not all funds are budgeted. [from the Institute for Truth in Accounting]

       

      Find the state's bond ratings here.

       

       

      Yankee Institute Logo


    • Solutions

      How Reality-Based Budgeting Can Permanently Resolve State Budget Gaps

      State Budget Solutions | by Bob Williams | November 7, 2012

      State Budget Solutions recommends that state legislators take action in 2013 to resolve the serious state financial crises by changing their focus from inputs to outcomes by redesigning budgets from the ground up based on priorities and performance.

    • Solutions

      How to Prevent Future Pension Crises

      by Cory Eucalitto | November 1, 2012

      The time for state and local governments to offer defined contribution retirement plans that protect both taxpayer dollars and public employee retirement security is now.

    • Solutions

      State Lawmakerís Guide to Evaluating Medicaid Expansion Projections

      The Heritage Foundation | by Edmund F. Haislmaier and Drew Gonshorowski | October 17, 2012

      Supporters of Obamacare claim that expanding Medicaid will entail little to no cost to state governments, since the federal government will fund the vast majority of the additional costs. Indeed, some analyses project states achieving savings from adopting the expansion. However, state lawmakers should be wary of accepting such analyses at face value.

    • Solutions

      Medicaid Is BrokenóLet the States Fix It

      The Wall Street Journal | by Paul Howard and Russell Sykes | October 15, 2012

      Block-granting Medicaid is the best way to deliver better, cost-effective care to the most vulnerable Americans.

    • Solutions

      The Case for Reform: Prisons

      Right on Crime | August 1, 2012

      Prisons are supremely important, but they are also a supremely expensive government program, and thus prison systems must be held to the highest standards of accountability.

    • Headlines : Connecticut, Illinois, Florida, Minnesota, New Jersey, Pennsylvania, Oregon, South Carolina, Washington

      Williams Report - December 8, 2014

      State Budget Solutions | by Bob Williams | December 8, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • HEADLINES: Connecticut, Illinois, Florida, Minnesota, New Jersey, Pennsylvania, Oregon, South Carolina, Washington

      Williams Report - December 8, 2014

      State Budget Solutions | by Bob Williams | December 8, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • Connecticut, Illinois, Florida, Minnesota, New Jersey, Pennsylvania, Oregon, South Carolina, Washington

      Williams Report - December 8, 2014

      State Budget Solutions | by Bob Williams | December 8, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • Research

      Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion

      State Budget Solutions | by Joe Luppino-Esposito | November 12, 2014

      State Budget Solutions' latest research reveals that state public pension plans are underfunded by $4.7 trillion, up from $4.1 trillion in 2013. Overall, the combined plans' funded status has dipped three percentage points to 36%. Split among all Americans, the unfunded liability is over $15,000 per person. 

       

    • RESEARCH

      Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion

      State Budget Solutions | by Joe Luppino-Esposito | November 12, 2014

      State Budget Solutions' latest research reveals that state public pension plans are underfunded by $4.7 trillion, up from $4.1 trillion in 2013. Overall, the combined plans' funded status has dipped three percentage points to 36%. Split among all Americans, the unfunded liability is over $15,000 per person. 

       

    • Promises Made, Promises Broken 2014: Unfunded Liabilities Hit $4.7 Trillion

      State Budget Solutions | by Joe Luppino-Esposito | November 12, 2014

      State Budget Solutions' latest research reveals that state public pension plans are underfunded by $4.7 trillion, up from $4.1 trillion in 2013. Overall, the combined plans' funded status has dipped three percentage points to 36%. Split among all Americans, the unfunded liability is over $15,000 per person. 

       

    • Research

      Common Core Costs: Examining California's Five Largest School Districts

      State Budget Solutions | by Hannah Oh | September 16, 2014

      There seems to be an endless amount of controversy surrounding the Common Core. Vocal supporters and critics are not hard to find. This report suggests that there is another point of contention to consider: the costs of the technology upgrades required to implement Common Core.

    • Headlines : California, Connecticut, Iowa, Kansas, Louisiana, Maryland, New Jersey, New York, North Carolina , Vermont, Virginia, Washington, Wisconsin

      Williams Report - August 19, 2014

      State Budget Solutions | by Bob Williams | August 19, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • HEADLINES: California, Connecticut, Iowa, Kansas, Louisiana, Maryland, New Jersey, New York, North Carolina , Vermont, Virginia, Washington, Wisconsin

      Williams Report - August 19, 2014

      State Budget Solutions | by Bob Williams | August 19, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.

    • California, Connecticut, Iowa, Kansas, Louisiana, Maryland, New Jersey, New York, North Carolina , Vermont, Virginia, Washington, Wisconsin

      Williams Report - August 19, 2014

      State Budget Solutions | by Bob Williams | August 19, 2014

      Join us on Twitter today by following @StateBudgets and tweeting with the hashtag #SBSBob.