Each November, in accordance with state statute, the Connecticut General Assembly's Office of Fiscal Analysis produces a Fiscal Accountability Report. According to statute, the report must explain: (1) the level of spending changes from current year spending allowed by consensus revenue estimates, (2) any changes to current year spending necessary because of “fixed cost drivers,” and (3) the total change to current year spending required to accommodate fixed cost drivers without exceeding current revenue estimates.
Connecticut state statute directs the secretary of the Office of Policy and Management and the director of the General Assembly's Office of Fiscal Analysis to agree on and issue consensus revenue estimates each year by November 10, and to issue any necessary consensus revenue revisions of those estimates in January and April. The estimates must cover the current biennium and the three following years. The consensus revenue estimates and revised estimates must (1) serve as the basis for the governor's proposed budget and for the revenue statement included in the final budget act passed by the General Assembly to indicate the budget is balanced, and (2) be included in the annual fiscal accountability reports submitted to the General Assembly's fiscal committees each November.
At, or near, the beginning of each month, the state comptroller provides a budget update to the governor. The budget update provides financial statements for the General Fund and the Special Transportation Fund, and includes the comptroller's projection for any budget deficits or surpluses.
Each year, in accordance with state statutes, the Office of the State Treasurer releases an Annual Report that includes "quantitative data, explanatory comments, and financial information regarding the Connecticut Retirement Plans and Trust Funds; the Short-Term Investment Fund; and the Connecticut Higher Education Trust, Connecticut’s 529 College Savings Program."
Each year, as required by state statute, the State Comptroller releases a report detailing the balances for the State's various funds. This report also details realized revenue versus budgeted revenue for specific State funds.
On or before the 20th day of each month, Connecticut's Office of Policy and Management, in compliance with section 4-66 of the state's General Statutes, provides the state comptroller with a forecast of revenues and expenditures for the state's General Fund.