Expressing optimism over the state’s potential, while cautioning that fixing the state’s financial woes will not be easy, State of Connecticut Comptroller Kevin Lembo shared his insights to the a luncheon gathering at the Country Club of New Canaan on Wednesday, May 31. The public event was sponsored by the League of Women Voters.
The fiscal guardian of the state and possible candidate for governor gave a financial state of the state speech with optimistic notes that may seem hard to reach, since the next day his Office of Policy and Management (OPM) projected that the general fund will end fiscal year 2017 operations with a deficit of $322.7 million. Grim, but this is an improvement of $67.1 million compared to the general fund's position a month earlier. The improvement resulted from “May 10th rescissions and other lapse savings,” his press release said. At the talk, he characterized his job as looking for change under the cushions.