PROVIDENCE, R.I. — Rhode Island state officials say they will have to keep a close eye on spending and hiring in order to close a daunting budget gap.
House fiscal adviser Sharon Reynolds Ferland said Tuesday the main culprit of the deficit is spending outpacing state revenue. The State Budget Office said last month Rhode Island is on track to run a $60.2 million deficit for the current fiscal year.
Ferland expressed the most concern about the deficit in the current budget, suggesting time is running out for a turnaround. She also says Democratic Gov. Gina Raimondo needs to act with urgency to head off the current year’s deficit.
Nine state agencies have submitted corrective plans to identify millions in potential savings.