- Associated Press - Thursday, January 8, 2015

PROVIDENCE, R.I. (AP) - The state of Rhode Island ended the last fiscal year with nearly $6 million less in its general fund compared with the previous year.

The Office of the Auditor General examined the state’s financial statements for the 2014 fiscal year that ended June 30. The fund stood at $395 million, including the rainy day fund of $177 million.

It had a surplus of $95 million before $101 million was transferred to another fund to pay for future capital projects.

Auditor General Dennis Hoyle says general revenues were about $14 million higher than projections and expenditures funded by general revenues were $16 million less than projections.

The Employees’ Retirement System covering state employees and teachers was about 60 percent funded. The State Police plan was about 96 percent funded.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More and View Comments

Click to Hide