PROVIDENCE – Rhode Island ended fiscal year 2012 with a $115.5 million General Fund surplus, according to a report from state controller Marc Leonetti.
The Ocean State fared better than expected, pulling in $12.9 million more than anticipated in general revenue and spending $29.4 million less on general revenue expenditures than budgeted during the year ended June 30.
The state made less money than forecast from lottery ticket sales, cigarettes, alcohol and motor fuel, but made up lost ground on sales and income tax as well as taxes on inheritance and gifts.
The Rhode Island Capital Fund available balance is $125.6 million.
In his Aug. 30 letter to the House and Senate Committees on Finance, Leonetti called the state’s budget reserve “fully funded” with a balance of $153.4 million.
PBN is now accepting applications for its newest award program and event for RI & Bristol County to celebrate the Manufacturing Renaissance that is evolving regionally and across the country. The deadline for applications is March 20th.
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.