Surplus boosts rainy day fun
The state closed its books this fiscal year with a $130 million surplus, according to unaudited figures released by Gov. Maggie Hassan’s office.
Roughly $40 million will go into the state’s rainy day fund, boosting the total balance to roughly $90 million. The remaining surplus will be rolled into the next state budget, which will be crafted this winter by the state’s new governor and Legislature.
“With this surplus,” Hassan said in a statement, “we will continue strengthening our rainy day fund and can bring it to its highest level in recorded history, maintaining our commitment to fiscal responsibility and the state’s long-term financial outlook.”
The 2016 fiscal year ended June 30. The budget plan accounted for just a $33 million surplus, but state business taxes came in strong, roughly 14 percent higher than expected and 16 percent above last year’s returns, according to an unaudited report.
Read more: http://www.concordmonitor.com/Maggie-Hassan-announces-budget-surplus-5109300