PROVIDENCE, R.I. -- If current trends hold, the state could close the current fiscal year with a $47.3 million surplus, providing money that would help to reduce the deficit projected for next fiscal year, House Finance Committee members learned Wednesday.
The projected surplus is partly the result of a surplus for the fiscal year that closed June 30. While officials had predicted a surplus for the past year, the final number -- $115.5 millon -- is about $21.7 million more than expected, said Sharon Reynolds Ferland, the House fiscal adviser.
A $47.3 million surplus for the current budget year reduces next year's projected deficit to $69 million.
Some departments appear to be overspending, however, including Corrections; Children Youth and Families; and Behavioral Healthcare, Developmental Disabilities and Hospitals.