HARTFORD

Gov. M. Jodi Rell announced Friday that the state's estimated budget surplus has grown to $512 million, up from $327 million a month ago.

The budget surplus for the current fiscal year, which ends June 30, is due to growing state income and corporate tax revenues.

"Connecticut's economy continues to expand and move forward, and these numbers offer proof of the momentum we continue to build," Rell said.

But the governor cautioned that the estimate is just a projection.

Rell said the biggest chunk of the surplus will be deposited into the state's Rainy Day Fund, which a recent legislative report said is short by approximately $800 million of what is needed. The surplus could also be used to help pay down debt and contribute to the state's pension fund obligations.