OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

http: //www.cga.ct.gov/ofa

SB-679

AN ACT CONCERNING THE PAYMENT OF CERTAIN COSTS FROM BOND FUNDS.

AMENDMENT

LCO No.: 5423

File Copy No.: 457

Senate Calendar No.: 296

OFA Fiscal Note

SEE BELOW

The amendment transfers funds from the Budget Reserve Fund to the Department of Correction to cover the cost of 128 additional Correction Officers on July 1, 2008. It is estimated that the net cost of these additional positions including overtime savings and fringe benefits would be $3.6 million in FY 09 and $4.7 million in FY 10.

The Budget Reserve Fund currently has a balance of $1.4 billion. A reduction in the balance of the fund would reduce the amount of interest that the state would receive from investments.

The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose.