Providence Mobile Newsroom
Budget analysts brief finance members on revenues
(Providence-AP) -- House budget analysts are projecting a potential two-year state deficit of about 226 (m) million dollars.
Fiscal adviser Michael O'Keefe briefed House Finance Committee members on the new budget numbers this afternoon.
His projected deficit covers the rest of this fiscal year which ends June 30th, and next fiscal year.
O'Keefe says the deficit could reach 277 (m) million dollars with normal increases in state employee cost-of-living payments, school aid and other spending.
He blamed declining revenue projections, including about 19 (m) million less in lottery payments, increased costs and structural budget problems.
He said Governor Carcieri's attempt to head off a deficit next year by asking state departments to trim budget requests by 10 percent will fall 90 (m) million short of what's needed, without factoring in normal increases.
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