BOSTON (AP) — An independent analysis pegs the state budget deficit at $1 billion in the current fiscal year — more than three times the previous estimate of state officials.

The analysis released Wednesday by the Massachusetts Taxpayers Foundation forecasts a $288 million shortfall in revenue and $525 million in spending obligations not included in the budget which runs through June 30. The organization also said the state faces at least $180 million in temporary Medicaid costs resulting from a breakdown of the state’s health insurance exchange.

Gov. Deval Patrick’s administration estimates the deficit is $329 million and disputes the foundation’s analysis.

Gov.-elect Charlie Baker is promising to make his own assessment of the shortfall after taking office on Jan. 8. He has ruled out new taxes or cuts in local aid.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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