State deficit pegged at $4.7M
PROVIDENCE, R.I. – Better than expected state revenues have left Rhode Island facing a budget deficit of just under five million dollars.
Figures released by the state budget office project general state revenue to be about $18 million more than expected when the current budget was enacted.
This will leave Rhode Island with a $4.7 million deficit when the fiscal year ends next June 30.
Governor Donald Carcieri has said that crafting the budget for the following year, fiscal 2012, will be one of the toughest tasks Governor-elect Lincoln Chafee will face.
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