City debt
Council to Have Special Meeting on Borrowing for Operating Expenses
Republican Mayor Erin Stewart has called the New Britain City Council into a meeting on what is described as a plan to borrow to cover annual city budgets.
City Considers Adding $30 Million Debt to Cover Deficits
Once again, under Republican Mayor Erin Stewart, the city is considering borrowing to cover the cost of city spending, now with a $70 million proposal.
Council Leaders Urge Public to Attend Hearing
City Council leaders are encouraging city residents to attend the public hearing that it is holding on Republican Mayor Erin Stewart’s budget plan.
City Budget Hearing Scheduled
The City Council has announced the date for the hearing that will be held for the public to comment on Republican Mayor Erin Stewart’s city budget plan.
Top 10 of 2018: #6 – $115 Million Stewart Debt Plan to Push Costs to Future
Mayor Stewart’s plan to borrow $115 million was seen as the result of her pushing debt into the future to artificially lower costs during her administration
Stewart Proposes Debt Plan
Republican mayor Erin Stewart is proposing a new borrowing plan and has called the City Council into a special meeting to consider her proposal.
Possible $11 Million Long-Term Deficit Apparently in Stewart’s Budget Proposal
Republican Mayor Erin Stewart proposed budget appears to cover a possible $11 million long-term deficit with non-recurring budget items that may leave a sizable shortfall in future years’ city budgets. Stewart’s budget proposal has already been criticized for increasing property taxes, despite her claim of “no tax increase”, as well as for freezing the city’s annual […]
City Council Budget Hearing to Be May 1st
The New Britain City Council has announced that it will hold its annual budget hearing on May 1, 2018. The hearing is to allow the Council to hear people’s opinions on the city budget before the Council makes its decisions. “During the public hearing,” the Council’s press release says, “residents are encouraged to voice their concerns regarding […]
Stewart Proposes “Huge Tax Increase” Despite Claiming “No Tax Increase”
Republican Mayor Erin Stewart’s budget includes what is being called a “huge tax increase,” despite her own claims that her budget is a “no tax increase” budget. Stewart’s press release on her budget proposal says that she, “presented to the Common Council a $237.72 million budget for 2018-19 that calls for no tax increase and […]
Council Approves Scaled-Down Version of Stewart Borrowing Plan
The City Council has approved a $99 million, scaled down version of Republican Mayor Erin Stewart’s original plan to borrow $115 million to push city debt into the future. While tension had risen last week, after reports, called, “misleading,” and, “inaccurate,” that a debt deal had already been concluded, discussions reportedly continued right up to […]