Connecticut faces a nearly $100 million deficit for fiscal 2015 should it take no administrative action to manage it, its Office of Policy and Management said in its
That action has already begun, OPM Secretary Benjamin Barnes said Nov. 14. Barnes has written to state agencies, asking them to reduce expenditures and curtail hiring. OPM is also developing allotment rescissions that will reduce spending.
The report describes factors affecting Connecticut's budget through fiscal 2018.
"This is consistent with what the administration has been saying - that no matter what the projections are we will manage and administer the budget so that there will be no deficit," Barnes said in a statement. "It is important to remember that this is a prediction of what would happen now and in the future should we do nothing - and doing nothing is not an option."
He added that raising taxes is not an option.
The report said Connecticut has made steady progress over four years by addressing structural budget imbalance and producing balanced budgets; implementing generally accepted accounting principles; shoring up the state employee pension system; streamlining state government; and undertaking a broad economic development program; and overhauling education.
