by Paul Bass | Jun 22, 2018 8:21 am | Comments (17)
Taxpayers are hopping mad about a 11 percent hike in the bills they began receiving this week; some have begun organizing community meetings to explore possible actions against it.
But based on a look at the government’s structural financial woes, the city would have had to raise taxes almost twice as much to truly balance the annual budget taking effect July 1 — or figure out how to cut another $30 million.
Continue reading ‘Budget Crisis Just Beginning’
by Thomas Breen | Jun 21, 2018 1:18 pm | Comments (21)
Mayor Toni Harp vetoed a Board of Alders order that requires any “additional revenue” received by the city for the next fiscal year to go towards reducing the city’s new 11 percent tax increase.
That veto comes just a few days after the city’s Parking Authority agreed to send over an additional $2 million to the city to help shore up its struggling finances.
Continue reading ‘Mayor Vetoes Tax Reduction Order’
by Christopher Peak | Jun 15, 2018 3:44 pm | Comments (28)
At an emergency meeting, representatives from several public employee unions tried to stop an imminent raid on the pension funds they’re owed.
Continue reading ‘Unions Go To Battle Over Pension Payment’
by Staff | Jun 15, 2018 2:40 pm | Comments (37)
Mayor Toni Harp gave raises to top non-union managers and confidential employees, in some cases their first raises in four years. The move prompted outraged alders to launch an investigation.
Continue reading ‘Harp Grants 37 Raises’
by Thomas Breen | Jun 12, 2018 7:57 am | Comments (38)
The city plans to fill a $14 million projected deficit this fiscal year with money originally budgeted for underfunded pensions, and with an extra $2.5 million from Yale University.
Continue reading ‘Pension Budget Raided To Plug Deficit’
by Thomas Breen | May 30, 2018 8:08 am | Comments (68)
The Board of Alders voted overwhelmingly Tuesday night to approve a final new city budget with an 11 percent tax increase after beating back three determined alders’ last-ditch attempts to cut expenditures.
Continue reading ‘Final Budget Vote Preserves Tax Hike’
by Thomas Breen | May 18, 2018 8:08 am | Comments (29)
In a first pass at amending next year’s budget, alders recommended shifting $5 million from the schools to help cover public employee medical benefits, and they signed off on a proposed double-digit tax increase ... for now.
Continue reading ‘$5M Cut From Schools; Pension Idea Nixed’
by Thomas Breen | May 16, 2018 12:12 pm | Comments (8)
Cut the accounting gimmicks. Don’t backload pension payments. And watch out for money lost to active investment fees.
Continue reading ‘New FRAC Report Sounds Budget Alarm’
by Thomas Breen | May 10, 2018 1:51 pm | Comments (9)
Fifty New Haveners seized on their last public chance to influence next year’s budget by offering a litany of concerns with a proposed double-digit tax increase and the riskiness of borrowing a quarter of a billion dollars to fund city pensions.
Continue reading ‘Budget Watchdogs: No To Borrowing $250M For Pensions’
by Christopher Peak | May 8, 2018 8:38 am | Comments (23)
A small high school that can’t attract required white suburbanites and two alternative schools that can’t keep traumatized students in class should be shuttered this year, a school board committee suggested.
Continue reading ‘3 Alternative Schools Targeted To Close’