Gov. Hassan Says State Finished FY14 With $19.5M Surplus

Sep 30, 2014

Credit NHPR Staff

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.