BOSTON (AP) - Gov. Charlie Baker's administration says the state's budget is nearly $300 million out of balance.

The announcement on Friday is likely to lead to spending cuts and a reduction of the state's workforce.

Secretary of Administration and Finance Kristen Lepore said in a letter that the projected $294 million deficit in the fiscal year starting July 1 is partly the result of sales tax revenues that are expected to fall short of earlier estimates.

Baker, a Republican, has also faulted the Democratic-controlled Legislature for overriding more than $200 million in budget vetoes.

As part of a plan to reduce spending, the administration says it will begin offering voluntary buyouts for executive branch employees. But officials did not rule out the possibility of layoffs if too few state employees opt for the voluntary departures.

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