Rell's Real Estate Sales Goals Are Looking Fuzzy
While accusing state legislators of shirking their fiscal responsibilities, outgoing Gov. M. Jodi Rell's administration reported just three months into the fiscal year that it wouldn't meet its commitment to sell more than $40 million in state assets to help balance the budget.
Despite being charged with raising $45 million from assets sales this fiscal year, the governor's budget agency, the Office of Policy and Management, reported in mid-October it expected just $3 million in sales before the fiscal year ends on June 30.
And a statement from Rell's office issued late Tuesday said despite that dramatic revenue adjustment, proceeds from asset sales might fall short even more, topping out at $200,000 this fiscal year.
A $42 million shortfall in asset sales was built into the consensus revenue forecast delivered to the legislature's Finance, Revenue and Bonding Committee on Oct. 15. That projection is prepared both by the OPM and by the legislature's nonpartisan Office of Fiscal Analysis.
But that forecast only lists broad revenue categories. The asset sales target was not identified by name, but rather was one of several items used to calculate "miscellaneous" General Fund revenues.
The Rell administration has not cited any problems tied to asset sales since the fiscal year began in reports either to legislative leaders, the finance committee or to the state comptroller's office.
Send to friend
Printer-friendly version
Comments
state assets
What is truly unconscionable is the neglect of those properties, such as Seaside and Norwich State Hospital, that are deteriorating rapidly, and subject to vandalism and continuing environmental degradation (asbestos, lead, soil and water table contamination, etc.) Norwich State Hospital is prime property on the Thames River, that could have had some value, if the State (read: Jodi) had provdied any leadership and oversight. Also too bad that Jodi didn't take up the first offer to buy Seaside, and assure public access to LI Sound. The fact the she and her hatchet-woman (Lisa) haven't acted are just more evidence of Rell/Moody Publican (a biblical term) administration's incompetence. Give us all a break, stick your tails between your legs and crawl away, the sooner the better.
Post new comment