990WBOB
  • WBOB Radio
  • Past Casts
  • F Bomb Friday
  • Weather
  • Contact
  • About
    • WBOB Press Releases
    • Join Our Team!
    • CHARITY GALA

RI Ends FY14 with General Fund Surplus of $68 Million

8/29/2014

Comments

 
Picture
Governor Chafee has announced that the FY14 Preliminary Closing Statement, issued by the Department of Administration’s Office of Accounts and Control, shows the state ended fiscal year 2014 with a $68 million General Fund surplus.  
General revenue expenditures were $16.1 million less than budgeted.  For each year of the current administration’s term, the state’s general revenue expenditures have been less than budgeted appropriations – $18 million less in 2011, $29 million less in 2012, and $17.8 million less in 2013.  This is the fourth year in a row that the state has seen strong closing surpluses – $64.2 million in FY11, $115.2 million in FY12, and $104.1 million in FY13.  $59.2 million of the surplus funds were accounted for in the FY15 budget as enacted by the General Assembly.
In addition, the FY14 Preliminary Closing Statement shows the budget reserve and cash stabilization account is fully funded with a balance of $177 million.  The Rhode Island Capital Plan Fund available balance is $124.4 million.

“I am very proud of our team of directors and state employees throughout all of state government who deserve significant credit for spending less than their enacted budget,” stated Governor Chafee.  “I am gratified once again that the state has ended each year that I have been Governor with a healthy surplus.  For the last two years, my administration has submitted a balanced budget on time and now, due to the strong fiscal management exhibited by our state agencies, we can announce that this is the fourth straight year in a row with state agencies coming in under budget.

“Recent economic indicators – including the steadily declining unemployment numbers, the increase in median house prices, continued economic growth in Q1 and Q2 and projected growth for Q3 – combined with this latest news of the state’s positive economic performance, show that together we are strengthening Rhode Island’s economy.  I am proud that my administration has set a strong platform for the next governor and the next stage in our state’s recovery.”

More WBOB Reads

  • Gardiner: Are You Experienced?
  • Dee DeQuattro: Pulse on Politics - August 29
  • Doyle: Barnum Bailey and the Holy Ghost?
  • Providence Ranked Least Honest City in America
Comments

    WBOB
    Original
    ​Reads

    Picture

    Unbiased, Unfiltered. WBOB's Original Reads feature our brightest and boldest personalities, offering their two-cents on the goings on of news, sports, politics, entertainment, and business. -- Are our opinions always PC? Nope. Are they always perfect? Nah. But, are they always 100% authentic? Absolutely!


    LISTEN
    ​TO WBOB ORIGINAL PODCASTS

    Picture
    Listen to
    ​Past BOBCasts

    WBOB 
    Best Reads
    Brought To You By
    TripAdvisor.com

    Picture

    Celebrating David Clyde: A Wild Passionate Friend To All


    Picture

    Search 
    The Archives


    Reads From Our Friends

    Picture

    The Best Game Development Tools: How to Make Your Own Game


    Contact Us
    info@990WBOB.com


Search For Your Favorite WBOB Author,
​or BobCast

990WBOB 
An Independent Media Outlet.

The views opinions and thoughts expressed do not  reflect those of 990WBOB, its management or its staff. All Rights Reserved 990WBOB.com 2007-2020
​
Contact WBOB HERE

WBOB Reads

Weather

Live BOBCasts

Past Casts

Contact Us

Join Our Team!

Featured Supporters

Picture
Picture
Picture
Picture
Picture
Picture
Photo used under Creative Commons from nzhamstar
  • WBOB Radio
  • Past Casts
  • F Bomb Friday
  • Weather
  • Contact
  • About
    • WBOB Press Releases
    • Join Our Team!
    • CHARITY GALA