Mon November 8, 2010
Officials meet on state finances
By IAN DONNIS
PROVIDENCE, R.I. – The second part of an annual process to forecast state finances continues today at the State House.
The revenue estimating conference takes place twice a year - in May and November. Legislators and other officials will use the projections formed during the conference to shape the next state budget.
Rhode Island ended the last fiscal year with a small surplus. But when federal stimulus money runs out the state will face an estimated $361 million deficit for the fiscal year beginning next July.
The latest caseload conference begins today and continues with a revenue estimating conference on Wednesday. On Friday, a Moody's Analytics' economist said Rhode Island is expected to lag overall U.S. job growth for the next five years.
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