The City Council's 4-3 approval of a third reading of New London's 2014 fiscal year budget brings the process to a close, but the budget can still be challenged by a mayoral veto or referendum.
Mayor Daryl Finizio has said he will not veto the budget as it has stood for its three readings. The $81,979,980 budget includes a $41,565,314 for municipal departments, $40,414,666 for New London Public Schools, and a 3.38 percent increase in the mill rate—or tax per $1,000 of assessed value—from 26.6 to 27.5.
Opponents of the proposal included Councilor Adam Sprecace, who put forth a series of alternate budgets that he said would be able to avoid layoffs. Police Chief Margaret Ackley has also said a reduction of about $900,000 in the police department may result in 15 layoffs.
Finance Director Jeff Smith has disagreed with the level of savings Sprecace anticipates the city could realize in areas such as employee and insurance costs, and other councilors were reluctant to support his proposal to further reduce the school budget. Finizio has said no police layoffs would take place before the midway point of the fiscal year to give the city an opportunity to find additional savings or revenues.
Do you think the 2014 budget is acceptable as it stands or would you support a referendum to reject the budget and have the Council create a new one? Let us know in the comments.
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