R.I. ended fiscal year with $167M surplus

PROVIDENCE – Gov. Gina M. Raimondo announced Sept. 1 that the fiscal 2016 Preliminary Closing Statement, issued by the Department of Administration’s Office of Accounts and Control, shows the state ended fiscal 2016 with a $167 million General Fund surplus, $44 million more than anticipated. General revenue expenditures were $16.2 million less than budgeted and general revenue was $28.6 million more than estimated.

According to a spokeswoman from the Department of Administration, the state’s projected deficit for fiscal 2018 is $185 million. •

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