Frank Smith Says NB: New Britain Budget Vote Is June 6 - Courant.com

Tuesday, June 5, 2012

New Britain Budget Vote Is June 6 - Courant.com

By DON STACOM

1 comment:

Anonymous said...: NEW BRITAIN — Following are the top deficit drivers of Structural Budget Deficit - as provided by the office of Mayor Timothy O’Brien.

1.- $6.5 million, medical self insurance fund: This is the fund that houses Anthem medical insurance and its medical expense for employees. The figure is so high, officials said, because the City wasn’t paying into the fund like it should have been.

2.- $4.9 million, debt payment for public improvement bonds. The money for several construction projects is now due.

3.- $4.1 million, this was the starting debt amount in 2009.

4.- $3.08 million, MERF (municipal employee retirement fund), which is the City’s contribution to the employee pension fund of most City employees.

5.- $2.4 million, reduction in revenues.

6.- $1.4 million, refunding of bonds or the refinancing of existing debt.

7.- $1.3 million, full-time salaries of public safety employees.

8.- $968,851, the City’s contribution to the Police Department pension fund

9.- $800,000, short-term debt payments.

10.- $697,709, the City’s contribution to Connecticut Care, another health care plan used by some City employees.

11.- $599,200, health insurance for retirees.

12.-$365,000, electricity for City buildings, street lights, parks and New Britain Stadium, among others.

13.- $324,682, motor fuel/oil for City-owned vehicles.

14.- $320,645, the City’s contribution to the Fire Department pension fund.

15.- $250,001, the leasing of equipment, mostly for fire trucks.

16.- $180,037, legal damage claims against the City.

NOTE: The New Britain Common Council is Scheduled to adopt a new budget on June 6. 2012 at 6:30 p.m. at City Hall.; June 5, 2012 at 5:35 PM

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