State closes FY25 with $250M surplus; still short of projected deficit for next fiscal year

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THE STATE SURPUS AT THE CLOSE of fiscal year 2025 came in at $250 million, roughly $20 million more than anticipated. But lawmakers are still facing a deficit heading into the next budget cycle, according to an Oct. 14 report released by the R.I. Department of Administration. /PBN FILE PHOTO

PROVIDENCE – The state finished the last fiscal year with a surplus of $250 million, surpassing expectations by about $20 million, according to the “closing statement” issued Oct. 14 by Gov. Daniel J. McKee’s administration While still ending fiscal 2025 in the black, the surplus is down from the previous year’s $327 million. The report

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