CONFRONTING THE NEW ECONOMIC REALITY
In his February 3, 2016 State of the State Address, Governor Malloy announced a new approach to state budgeting in light of the new economic reality facing the state and the nation. Under this approach, the Governor's Proposed Fiscal Year 2017 Budget "limits spending in the upcoming fiscal year and beyond to actual revenue projections...based not on how much we want to spend, but how much money we actually have to spend." Among other things, the Governor's Budget requires agencies to achieve cost reductions of 5.75% over the budget enacted in 2015.
To facilitate this effort, the Office of Policy & Management required agencies to provide FY 2017 General Fund Spending Plans and Program Prioritization. Phase 1 (PDF 201KB) requires agencies to provide a list of activities currently performed by the agency, in priority order. Phase 2 (PDF 215KB) requires agencies to provide a detailed account of spending and staffing for each activity and identify specific actions (such as program changes or eliminations, staffing reductions or contract cancellations) that will be necessary in order to operate within the resources recommended in the Governor's Budget.
This page will be updated with documents and information informing the public of the progress underway to implement structural changes to state government in order to confront the new economic reality.
CREDIT RATING AGENCY REPORTS
CONSENSUS REVENUE FORECASTS
|For more information contact:|
|Name: ||Christopher Drake|
|Office: ||Office of the Secretary|
Content Last Modified on 5/9/2016 2:32:25 PM