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Posted inCT Viewpoints

Municipal fund balances fall far short of needed financial buffer

The CT Mirror’s August 14 report on “The state of CT’s cities and towns in charts” is a detailed, reasoned analysis, consistent with the high quality of work we expect from the CT Mirror. Yet, one of the essential parts of the Mirror’s report — its analysis of municipal fund balances — falls short of presenting the most accurate and clearest understanding of this critical component of municipal finances.

Posted inCT Viewpoints

Are union concessions ‘la bancarotta fraudolenta?’

The $5 billion deficit that had opened up for the biennial fiscal year starting July 1 continues to haunt the state government and the people of Connecticut. Republicans proposed to close the budget gap largely on the basis of a restructuring of bloated public sector pay and benefits. Gov. Dannel Malloy wanted none of this. He also did not accept the contention that most of the “concessions” the state received from its unions did not require any “deal” and could have been achieved unilaterally. Significant adjustments to the catalog of the outsized benefits of our government employees are set in statute and could have been addressed legislatively.