Mayor Finizio Presents Revised Budget to New London City Council

A Press Release from Mayor Daryl Justin Finizio

Today, Mayor Daryl Justin Finizio presented an adjusted budget for Fiscal Year 2013 – 2014 to the City Council.

This new budget represents an expenditure reduction of $588,543. The areas reduced were mostly in unemployment insurance and benefits due to the voluntary departures in the Police Department. Additionally, the new budget includes a reduction of $5,000 from the Board of Education budget.

“This is a balanced budget that should be maintained throughout the Fiscal Year without the need for layoffs, barring any unforeseen financial shortfalls, or acts of nature that overburden our existing resources in the coming fiscal year,” said Mayor Finizio

“I respect the concerns that have been raised for greater budget transparency from the school administration, this is why I remain a strong advocate for consolidating City and School finance operations. I do not, however, believe that the appropriate way to express displeasure related to transparency would be to further reduce the education appropriation,” Mayor Finizio concluded.