PROVIDENCE, R.I. — Rhode Island will finish the fiscal year will a smaller surplus than expected.
WPRI-TV reports (http://bit.ly/2rfYteQ ) that state budget officer Tom Mullaney published a report Tuesday. Rhode Island is expected to finish out the 2016-2017 budget year with a $14 million surplus. The state’s earlier projected surplus was $59 million.
Overspending by state agencies and poor tax returns are being cited for the smaller surplus. Social services cost the state the most during the past fiscal year.
Democratic Gov. Gina Raimondo says she isn’t surprised but still is disappointed. Raimondo and legislative leaders are currently hashing out final details on next year’s budget.
Raimondo’s proposal for free tuition has garnered much attention during the talks. The governor says she’s open to changing the plan for the budget.
Information from: WPRI-TV, http://www.wpri.com