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.
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.
Issue brief and backgrounder from the Connecticut General Assembly's nonpartisan Office of Legislative Research that explains the volatility cap, and the related bond covenant requirement, which was initially passed as part of Connecticut's biennial budget for fiscal years 2018-19.
This resource contains the complete budget books, produced by the Connecticut General Assembly's Office of Fiscal Analysis, for the State of Connecticut from fiscal year 1973 to fiscal year 2025.
Monthly reports from the Connecticut General Assembly's Office of Fiscal Analysis detailing its most recent estimated General Fund budget projections, revenue estimates, and expenditure details for fiscal year 2023.