OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

http: //www.cga.ct.gov/ofa

SB-492

AN ACT CONCERNING DEFICIT MITIGATION FOR THE BIENNIUM ENDING JUNE 30, 2011.

AMENDMENT

LCO No.: 2985

OFA Fiscal Note

State Impact: See Below

Municipal Impact: See Below

Explanation

The amendment makes modifications and revenue adjustments to the FY 10 and FY 11 budget. The various changes will result in a $452.3 million net reduction in the anticipated FY 10 General Fund deficit and a net increase of $29.5 million in FY 11.

 

FY 10 Gross

Revenue Impact Loss/(Gain)

FY 10 Net

All GF Expenditures Items:

(130, 334, 529)

48, 886, 000

(81, 448, 529)

All Other Approp Funds Items:

-

1, 118, 987

1, 118, 987

All GF Revenue Impact:

-

(296, 518, 897)

(296, 518, 897)

All Fund Transfers:

-

(75, 412, 411)

(75, 412, 411.00)

Total Impact

$ (130, 334, 529)

$ (321, 926, 321)

$ (452, 260, 850)

 

FY 11 Gross

Revenue Impact Loss/(Gain)

FY 11 Net

All GF Expenditures Items:

(220, 950, 469)

74, 629, 911

(146, 320, 558)

All Other Approp Funds Items:

(10, 408, 131)

-

(8, 269, 181)

All GF Revenue Impact:

-

285, 400, 000

283, 261, 050

Agency Consolidations

(88, 000, 000)

-

(88, 000, 000)

All Fund Transfers:

-

(11, 200, 000.00)

(11, 200, 000.00)

Total Impact

$ (319, 358, 600)

$ 348, 829, 911

$ 29, 471, 311

The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.