State Budget

Similar to a budget for a household or business, the State of Connecticut is supposed to have an annual budget that 1) estimates how much money the State expects to collect as revenue, and 2) specifies how much the State should spend and for what purposes.

Connecticut's state budget has different sections regarding the State's expected revenue and expenditures. Revenue is the income or money the State receives from taxes, fees, and other sources. Expenditures are the money the State spends on government services, programs, and other functions.

The largest piece of the state budget is the General Fund, which contains money used for expenditures authorized by the state budget and not otherwise restricted by state statute. The General Fund finances the bulk of the state government's operations.

Since fiscal year 2000, General Fund expenditures have increased 18.3 percent from approximately $15.79 billion in fiscal year 2000 to $18.68 billion in fiscal year 2018. General Fund revenues have also increased 11.6 percent from $16.31 billion in fiscal year 2000 to $18.2 billion in fiscal year 2018.

In fiscal year 2018, General Fund expenditures exceeded revenues, resulting in a $483 million deficit. Between fiscal years 2000 and 2018, Connecticut experienced General Fund deficits in eight fiscal years and surpluses in 11 fiscal years. Of the eight fiscal years since 2000 that Connecticut's General Fund has run a deficit, six have occurred since the Great Recession.

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