Preliminary Analysis of FY 2009 Year-end Statement and Out-year Projections

On Wednesday, September 23, 2009, RIPEC released its analysis of the state’s FY 2009 deficit and projections of out-year deficits. Based on a preliminary audit by the State Controller the fiscal year 2009 will close with a deficit of $61.7 million. The deficit is due to a revenue shortfall. Further exacerbating the situation are the …

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