Gov. Hassan Says State Finished FY14 With $19.5M Surplus
Governor Maggie Hassan says the state finished the last fiscal year with a $19.5 million surplus.
It was the first year of the state’s two-year, $10.7 billion budget.
Hassan says meals and rooms and real estate transfer tax remained strong, though cautioned revenue shortfalls from business taxes and the interest and dividends tax have put a strain on the state’s budget.
In addition, Hassan says the state Department of Health and Human Services has seen caseload growth larger than anticipated.
Hassan says she has convened a panel to provide updated revenue estimates for the current fiscal year.
Earlier this year, the governor ordered a freeze on hiring, equipment purchases and out-of-state travel, and asked state agencies to delay any large purchases.