The Commonwealth of Massachusetts has closed out the books for Fiscal Year 2019.
Money ended up going to the M.B.T.A as well as to the Commonwealth's rainy day fund.
Bristol Plymouth First District State Senator and Chair of the Senate Ways and Means Committee Mike Rodrigues told WSAE that this past fiscal year saw a significant surplus.
“F-Y 19 was a great year,” he said. “We cloed the year with over a billion dollars in surplus.”
“We closed the books and deposited about six hundred million dollars into the state’s rainy day account,” Rodrigues said. “We paid off all of our bills.:
Rodrigues told WSAR that work on Fiscal Year 2021 is already underway.
“We finally put F-Y 19 to bed and we’re almost halfway through F-Y 20,” he said. “That started on July 1st. And last week we already began putting the budget together for the next fiscal year.”
The Governor will submit his budget proposal next month, followed later in the Spring by proposals from both the Massachusetts House and Senate.