PROVIDENCE, R.I. — The State Budget Office’s first quarter report, released today by Governor Lincoln Almond, projects a budget surplus of $41.1 million for the current fiscal year.
Last week’s Consensus Revenue Estimating Conference, which meets in May and November, projected $100.2 million in additional revenues, a figure that includes anticipated sales tax and personal income tax collections.
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The report’s projections are based upon comparisons between revenues and expenditures for state departments and agencies for the current and previous fiscal years. The previous fiscal year, which closed on June 30, 2000, saw a surplus of $96.7 million.
