A combination of strong fiscal management, an improving economy and the settlements of lawsuits resulted in an unaudited surplus of $76.1 million for fiscal year 2013, Governor Maggie Hassan announced today.
In addition to the report of the FY 13 surplus in the unaudited Comprehensive Annual Financial Report, the Monthly Revenue Focus for September that was released this week shows the state currently running $26.9 million ahead of plan for FY 14.
"A strengthening economy and sound fiscal management from state agencies resulted in a strong surplus, improving our ability to address our fiscal challenges," Governor Hassan said.
"We worked cooperatively to pass a bipartisan budget. At the end of the process, uncertain about revenues, back-of-the budget cuts were made to the Department of Health and Human Services that no one liked," Governor Hassan continued. "With this surplus, and strong revenues for this year, my hope is we can work in that same cooperative spirit to use a portion of the surplus to begin rebuilding our state's Rainy Day Fund and a portion to reduce back-of-the-budget cuts to the Department of Health and Human Services, which could impact vital programs ranging from services for people with disabilities to child care.
"Thanks to the fiscally responsible, bipartisan budget we passed in June, the state government's fiscal position continues to strengthen, helping us build the foundation for a more innovative economic future."