Rhode Island has a bigger budget surplus than anticipated. What will be done?

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Rhode Island ended the 2022-23 budget year with an even larger surplus than anticipated.

That may – or may not – be good news, given how much less the state actually spent on a long list of stated priorities than they budgeted for, from education to medical assistance to “homelessness infrastructure” to highway improvements.

In some past years, over-spending was the issue. Not this year.

Rhode Island has a bigger budget surplus than anticipated. What will be done?

State collected more in taxes, and spent millions less, than anticipated

Over-budgeting jumps out as a recurring theme in the newly released closing report issued by state Controller Dorothy Pascale for the fiscal year that ended on June 30..

The bottom line: the state collected $12.3 million more than anticipated in taxes and fees while spending $85 million less than budgeted when lawmakers passed – and Governor Dan McKee signed – the state’s spending plan for the year that ended on June 30, 2023.

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