Tuesday, March 3, 2009
Pencil Eddie an Auditor's Opinion ... really is meaningless!!!
Me Speak with forked tongue ... but that's politics!


Monday, March 2, 2009
ALL CAPITAL PROJECTS SHOULD BE DELAYED
Contact: Steve Jensen: 860-702-3308/3301
E-mail: Steven.Jensen@po.state.ct.us
Cell: 860-539-9298
WYMAN SAYs DEFICIT RISES TO $1.2 BILLION AS REVENUES CONTINUE TO SLIDE.

The estimated deficit has risen by about $139 million in the last month, driven mainly by drops in collection of the income tax, sales tax and the tax that corporations pay on profits.
"As the final quarter of the fiscal year approaches, the decline in these major tax categories is accelerating," Wyman said. "Decisive action to reduce this historic shortfall must be taken quickly to avoid completely draining our $1.4 billion Rainy Day Fund."
The income tax was expected to bring in $7.6 billion this year, but will likely fall at least $900 million short of that target due to the decline of the financial markets and the loss of about 29,000 jobs in Connecticut. The state will also pay out about $140 million more in tax refunds than was anticipated.
Collections of the sales tax are expected to decrease by about $352 million from original estimates, and the corporation tax is down by about $183 million.
Wyman's estimate, which includes close to $650 million in deficit-mitigation steps approved by the General Assembly, is about $295 million higher than that of the Governor's budget office.
The current projected deficit of $1.2 billion is based on a 2009 budget of $18.4 billion.
-END-
This message was sent to you by the Office of the State Comptroller Listserv 'WYMANews'. If you would like to make a comment about this or any other issue, please send an email to:comptroller.wyman@po.state.ct.
Sunday, March 1, 2009
Department of Economic and Community Development
Stimulus Money Feb. 27, 2009 For more information, please visit the DECD website: http://www.ct.gov/ecd/cwp/ To: Eligible Small Cities Recipients As you all know the Federal Government will be sending stimulus money to the State of If you have a shovel ready project and would like to submit an application please provide some information on the project and dollar amount needed to complete the activity. DECD will consider holding a training meeting in the near future to address the program requirements when they become available. Contact Veronica Hunter @ 860-270-8236 or by email @ Veronica.Hunter@ct.gov |
Reimbursements, promises and reality
Danbury left with bill for bridge replacements
DANBURY -- Don't you just hate it when a friend asks you to dinner and leaves you with the tab?
That was the situation that city officials found themselves in this week when they were left with a $1.3 million bill for bridge replacements the state had promised to pay for.
Funding for the bridges, which have already been replaced, was cut as part of a $1.2 billion deficit mitigation plan the General Assembly passed last week.
Mayor Mark Boughton said he understands the state might have to eliminate money for future projects, but these bridges were completed last year.
"We've been waiting for months for our reimbursement from the state," Boughton said. "These are bridges the state wanted us to replace. The problem now is that we have these bridges finished, but we don't have the money."
Other towns in the region were also affected when the legislature cut the $28 million bridge replacement program.
Redding was supposed to receive money to repair a bridge on Station Road over Umpawaug Pond Brook. Sherman officials were expecting money for a bridge replacement project that's under way on Old Greenwoods Road.
State Sen. Michael McLachlan, R-Danbury, who voted against the deficit mitigation plan, said he was told Wednesday, before the plan passed, that the funding would be there. Thursday morning he discovered it was gone.
"I've had discussions with the state Department of Transportation, and they are working diligently on this," he said. "It seems like they will work with the governor's office and the legislature to try and fix what happened."
McLachlan said he will continue to monitor the situation until Danbury gets the money it is owed.
State Department of Transportation officials could not be reached for comment.
Contact Dirk Perrefort
or at (203) 731-3358.۩