The State of Connecticut uses “consensus revenue estimates” in an attempt to increase the accuracy of projected state revenues and ensure agreement on projections between the budget offices for the governor and legislature. These estimates, which are released three times per year, play a key role in both the execution of the state’s budget as well as the state budget development process.
This document provides an overview of the consensus revenue estimates released on April 30, 2025, and what they mean for the development of the biennial state budget for fiscal years 2026 and 2027. The April 30th estimates are the last consensus revenue estimates for FY 2025.
The April 30th consensus revenue estimates will serve as the foundation for the legislature’s revenue package in the final passed budget. While the estimates indicate state revenues will modestly grow in FYs 2026 and 2027, these additional revenues are not necessarily fully available for increased spending.
Citation
School and State Finance Project. (2025). April 2025 Consensus Revenue Estimates Update. Southington, CT: Author. Retrieved from https://files.schoolstatefinance.org/hubfs/Reports/April%202025%20Consensus%20
Revenue%20Estimates%20Update.pdf.