Monthly Archives: October 2014

Teachers’ pension fund begins a recovery

The teachers’ pension fund – which has been one of the state’s fastest growing expenses in recent years – will not cost the state quite as much next year. Independent financial experts informed the state this week that its required contribution for the upcoming fiscal year will decrease by $8.5 million. It’s the first time the state’s required contribution will decrease since Connecticut borrowed $2 billion in 2008 to help shore up the troubled fund and promised investors it would contribute annually the full amount recommended by analysts. State lawmakers in recent years have been forced to make large contributions to compensate for the hit the fund took during the recession. For example, last fiscal year the state was required to contribute $948.5 million, a 20 percent increase over the previous year. Continue Reading →

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Nonpartisan analysts tracking $84M in potential cost overruns in state budget

Gov. Dannel P. Malloy’s administration isn’t projecting any troubles for the current state budget, but the legislature’s nonpartisan analysts have identified almost $84 million in potential problems. The Office of Fiscal Analysis reported “deficiencies” or potential cost-overruns in five areas.
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Explore: Donations to Connecticut congressional candidates

More than $11 million has been poured into Connecticut’s congressional races. Just days from the election, explore our searchable database of who is giving to the candidates and how much they are donating. Spoiler: One part of the state far outweighs the rest. Continue Reading →

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UConn scholarship fundraising takes a leap

The University of Connecticut’s chief fundraising arm is on a roll, and many more students will get help paying for college as a result.

“Hundreds of additional students will be supported,” said Josh Newton, the president of the UConn Foundation. The foundation raised $81.1 million in donations in the 2013-2014 fiscal year, a $17.5 million boost, 0r 27.5 percent, over the previous fiscal year. It is “the highest level of giving to the University in the 50-year history of the UConn Foundation,” says the organization’s annual report. The momentum has continued into this school year. “It has been a strong first quarter,” the foundation informed UConn’s Board of Trustees Wednesday. The foundation has raised $8.4 million more so far this fiscal year than at the same time last year. Continue Reading →

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