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.
Tax incidence is a method of analysis that examines the impact of taxation. The tax incidence report from Connecticut's Department of Revenue Services (DRS) examines the impact of taxes on Connecticut households, analyzes the "results of the interplay of tax impacts," and provides an overview of Connecticut's tax environment.
Each year, the Connecticut State Department of Education (CSDE) publishes Public School Expenditure Reports. Based on data submitted to the CSDE by each school district through the Education Financial System (EFS), these reports provide information on total district and school spending as well as spending per student.
Required by Section 4-74a of the Connecticut General Statutes, this report is prepared by Connecticut's Office of Policy and Management and is required to "include the recommendations of the Governor concerning the economy and shall include an analysis of the impact of both proposed spending and proposed revenue programs on the employment, production and purchasing power of the people and industries within the state.” This report is also intended to provide a brief profile of the State of Connecticut, the economy of the state, revenues and economic assumptions that support the governor's budget, and an analysis of the impact of both proposed spending and proposed revenue programs on the economy of the State of Connecticut.
On Wednesday, February 7, 2024, Governor Ned Lamont released his proposed budget adjustments for fiscal year 2025 to the Connecticut General Assembly. This resource contains documents related to these proposed adjustments.
In accordance with state statute, every other year, the Connecticut General Assembly's Office of Fiscal Analysis produces a report on the state's tax expenditures, which are defined as exemptions, exclusions, deductions, or credits that result in less tax revenue to the State or municipalities than they would otherwise receive.