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City Council Eliminates Lingering Deficit in School Budget

U.S. News

City Manager Joseph Nicholson told councilors that the Newport School Department had a deficit of $1,727,394 in its operating and capital fund budgets for fiscal 2018. The Newport Daily News reports the department also had a positive balance that helped pay down part of the deficit, and the city's municipal budget had a year-end surplus of approximately $900,000.

US budget deficit nearly doubles in December from year ago

U.S. News

The Treasury Department says the December budget deficit was $27.5 billion, nearly double the $14 billion in December 2015. In the first three months of the government's budget year, the deficit is slightly below last year's total. But adjusting for calendar quirks that moved some large benefit payments into September, the deficit has worsened in the past three months.

US Budget Deficit Hits $176.2 Billion in March

U.S. News

The Treasury Department reported Wednesday that the deficit in March totaled $176.2 billion, compared to $108 billion in March of last year. A big part of that increase reflected $42 billion in April benefit payments that were shifted into March because April 1 fell on a Saturday this year.

US budget deficit shrank in May

U.S. News

The Treasury Department says the deficit last month totaled 52.5 billion, down from a deficit of 84.1 billion in May 2015. However, much of the improvement reflected nearly 40 billion in May benefits that were paid in April because May 1 fell on a Sunday.

US Budget Deficit Rose in June to $90.2 Billion

U.S. News

The Treasury Department said Thursday the June deficit totaled $90.2 billion compared to a surplus in June 2016 of $6.3 billion. However, outlays grew by $39 billion this year because benefit payments that normally would have been distributed in July were made in June since July 1 fell on a Saturday.