May 2013 - City of New Haven

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May 2013 - City of New Haven
Mayor John DeStefano, Jr.
Monthly Financial Report
For the Month Ending May 30, 2013
Submitted June 28, 2013
OFFICE OF THE MAYOR
165
CHURCH STREET • NEW HAVEN • CONNECTICUT
06510
The vision
JOHI" DESTEFAI"O. J R..
of N('\.v Hawn 's childrm
is our cit),'s greatest r!Sot.,rct. CII'
Mayor
June 28, 2013
The Honorable Board of Aldermen
City of New Haven
165 Church Street
New Haven, CT 06510
Dear Honorable Board :
In compliance with Section 62 of the Charter of the City of New Haven, please find attached the required budgetary
and financial reports for the month of May, 2013.
As required by City Charter, the report shall be filed in the Office of the City Clerk where it shall be available for
public inspection. Copies will also be made available to members of the Financial Review and Audit Commission.
Thank you.
phone 203 .946.8200 fax
203~946.7683
"This creative imprmion is the work oj Janie Maysonet, a student at Fair Ha ven Middle Scbool.
,,..
City of New Haven
Monthly Financial Report
For Month Ending May 30, 2013
Table of Contents
Page
General Fund
Expenditure and Revenue Projection Explanation __________________ 1-2
Expenditures vs. Revenue
Expenditure Projection Report
3
_______________________________ 4
Revenue Summary
5
Revenue Projection__________________________________________6-7
Projected Vacancy & Non-Personnel Savings____________________ 8
Mayors Proposed Action Plan per Section 2-389 of City Ordinances___ 9
Tax Collections____________________________________________ 10
Investments_______________________________________________ 11
Outstanding Debt __________________________________________ 12
Overtime by Department, by Week
13
Overtime by Department, by Month
14
Special Fund
Expenditure and Revenue Projection Explanation_________________ 15
Expenditure Projection Report
16
Revenue Projection Report
20
Capital Budget
Fy 12-13 Capital Budget year to date __________________________ 23
Other
Personnel Actions
24
Travel
25
Transfers
26
Grants
27
Self Insurance Funds & Food Service __________________________ 28
Moody’s Rating ___________________________________________ 29-34
GENERAL FUND EXPENDITURE AND REVENUE PROJECTION EXPLANATION
Expenditures
1) Negotiations with various bargaining units with expired contracts are on-going. Local 884's contract has been implemented and Local 3429 Para-Professionals and Local
530 were settled and implemented. These contract will serve as the basis for other CERF unit negotiations. Fire is in arbitration. Local 3144 membership has ratified an
agreement and the full BOA will vote on the contract on July 1. Local 71 Parks is in binding arbitration.
2) Fitch issued a ratings downgrade from A+ to A on April 19, 2012 and retained a negative outlook. Moody's issed a ratings downgrade on 6-17-13 from A1 to A2 with a
negative outlook. The rating is included as the last portion of this report.
3) An additional capital sweep will be conducted as the City closes the fiscal year. Preliminary results are listed on page 9.
4) A comparison of selected departments gross overtime expenditures is cited below along with a projection for Fire, PS Communications and Police versus budget.
FY 11-12
Fire gross overtime
FY 12-13
+/-
%
4,360,297
5,840,826
1,480,529
Parks gross overtime
237,713
324,085
86,372
34%
36%
Police gross overtime
5,218,182
6,308,241
1,090,059
21%
Public Works gross overtime
517,392
629,563
112,171
22%
Public Safety Communications
627,633
756,275
128,642
20%
10,961,217
13,858,990
2,897,773
26%
5) Medical Benefits saw an increases in expenditures in May. Medical expenses increase by 11% and year to date expenses are now slightly below last year through May.
6) Public Safety Personnel Projections
Police
FY 13 Budget
FY 13 Projected
+/-
Comment
Salary
29,975,573
27,500,634
2,474,939 Retirement separation pays
Overtime
3,412,000
6,039,450
(2,627,450) Assumes $125,000 per week
Shift/pay Differential
Longevity
Educational pay
470,000
155,000
58,800
364,169
161,649
53,463
Gasoline
600,000
850,000
Total
34,671,373
34,969,365
Fire
FY 13 Budget
FY 13 Projected
Salary
21,835,101
19,723,945
Overtime
4,099,000
6,456,975
Shift/pay Differential
332,000
447,366
105,831 $6,156 projected per week to years end
(6,649)
5,337
(250,000) FY 12 actual $858k
(297,992)
+/-
Comment
2,111,156 $360k per week
(2,357,975) Assumes $125,000 per week
(115,366) $8,660 per week
Longevity
395,000
371,683
23,317
Educational pay
611,000
604,645
6,355
Holiday pay
1,300,000
1,230,197
69,803
Total
28,572,101
28,834,811
(262,710)
PS Communications
FY 13 Budget
FY 13 Projected
+/-
Comment
Salary
2,755,413
2,755,413
-
Overtime
265,000
265,000
-
Shift/pay Differential
47,500
47,500
-
Total
3,067,913
3,067,913
-
1
State Reimbursement to offset
Revenue
1) Selected revenue Categories July to
May
FY 11-12
FY 12-13
5,180,396
678,665
15%
PARKING METERS
4,359,148
4,793,521
434,373
10%
CONVEYANCE TAX
BUILDING PERMITS
996,064
5,250,916
1,576,064
5,026,398
580,000
(224,518)
58%
-4%
CITY/TOWN CLERK
298,893
331,053
32,160
11%
Year to date Actual
5
Yale University - Other Projects
100 College St
Forest City
Regular activity - Non Yale
1
1.4
0.8
0.8
Total Projected
9.0
Potential List of Major Yale University projects seeking permits
Approximate
Construction Cost
Yale University Building Projects
%
4,501,731
2) Buillding Permits - Projected at $9m
Yale University Building Projects
Hendrie Hall
Laman- Wright
Branford- Saybrook Roof
344 Winchester Bakery
Third Chiller
YCBA - 2nd Floor
77 Broadway
+/-
PARKING TAGS
25,000,000
3,000,000
3,000,000
3,000,000
2,000,000
2,000,000
500,000
Approximate
Permit fee
680,000
80,000
80,000
80,000
55,000
55,000
15,000
1,045,000
2
SUMMARY OF GENERAL FUND EXPENDITURES VS. REVENUES
FISCAL YEAR 2012-13
MAY
BOA APPROVED
PROJECTED
+/-
EXPENDITURES:
486,400,365
486,400,365
(0)
REVENUE
486,400,365
484,280,420
(2,119,945)
+/-
-
(2,119,945)
BALANCE SURPLUS / (DEFICIT)
3
(2,119,945)
(2,119,945)
GENERAL FUND EXPENDITURE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
DEPARTMENT
{1}
{2}
FY 12-13 BOA
FY 2012-2013
REVISED
{3}
Budget
BUDGET
{4}
{5}
{6}
{7}
{8}
Year-To-Date
Year-To-Date
{3} + {4}
Year-To-Date
%
of
Projection
+/-
Expended
Encumbered
Total Obligated
Budget
FY 2012-13
{9}
Comment
{2} - {7}
111 - LEGISLATIVE SERVICES
131 - MAYOR'S OFFICE
132 - CAO
133 - CORPORATION COUNSEL
137 - FINANCE
139 - ASSESSOR'S OFFICE
152 - LIBRARY
160 - PARKS & RECREATION
161 - CITY/TOWN CLERK
162 - REGISTRAR OF VOTERS
812,353
866,313
1,351,939
1,817,534
10,028,638
825,409
3,617,074
4,817,368
471,808
564,359
812,353
887,163
1,726,589
1,937,034
9,972,788
938,909
3,597,074
4,817,368
471,808
564,359
639,650
1,026,585
1,288,918
1,579,496
8,762,734
741,877
3,157,763
4,321,129
387,006
514,143
57,178
39,625
336,407
141,716
1,532,746
27,245
198,234
290,025
28,047
19,858
696,828
1,066,211
1,625,325
1,721,212
10,295,480
769,123
3,355,997
4,611,154
415,054
534,001
86%
120%
94%
89%
103%
82%
93%
96%
88%
95%
812,353
887,163
1,726,589
1,937,034
9,972,788
938,909
3,597,074
4,917,368
471,808
564,359
200- PUBLIC SAFETY COMMUN.
3,159,913
3,159,913
3,002,653
9,108
3,011,761
95%
3,159,913
201 - POLICE
37,440,952
37,440,952
33,800,295
789,016
34,589,311
92%
37,738,944
(297,992) $125k per week;
202 - FIRE
30,863,762
30,863,762
28,446,015
475,132
28,921,147
94%
31,126,472
3,104,445
63,368
651,888
337,405
87,031
1,994,084
3,084,445
63,368
651,888
337,405
87,031
1,994,084
2,635,457
58,455
563,814
310,518
77,458
1,802,395
40,179
69
50,386
3,140
107,369
2,675,636
58,524
614,201
310,518
80,598
1,909,764
87%
92%
94%
92%
93%
96%
3,084,445
63,368
651,888
337,405
87,031
1,994,084
(262,710) $125k per week
-
402 - LABOR SAVINGS
(2,500,000)
(2,500,000)
-
-
-
402 - VACANCY SAVINGS
(1,140,970)
(1,140,970)
-
-
-
404 - VARIOUS ORGANIZATIONS
405 - NON-PUBLIC TRANSPORT.
501 - PUBLIC WORKS
188,295
480,000
11,585,135
188,295
480,000
11,375,135
188,295
284,394
9,806,244
1,047,866
188,295
284,394
10,854,110
100%
59%
95%
188,295
480,000
11,375,135
-
502 - ENGINEERING
3,169,750
3,169,750
2,694,326
344,582
3,038,908
96%
3,169,750
-
600 - DEBT SERVICE
65,716,889
65,716,889
65,291,515
-
65,291,515
99%
63,207,522
701 - DEVELOPMENT OPER. CONT.
702- CITY PLAN
704 - TRANS/TRAFFIC & PARKING
705 - EQUAL OPPORTUNITIES
721 - BUILDING INSP. & ENFORCE.
724 -ECONOMIC DEVELOPMENT
747 - LIVABLE CITY INITIATIVE
1,001,600
504,472
2,348,306
105,708
905,857
1,316,372
664,530
1,001,600
504,472
2,348,306
105,708
905,857
1,316,372
664,530
1,004,264
452,396
2,029,013
99,152
813,464
1,229,115
571,165
15,931
118,761
2,026
11,266
15,410
26,864
1,004,264
468,327
2,147,774
101,178
824,730
1,244,525
598,029
100%
93%
91%
96%
91%
95%
90%
1,001,600
504,472
2,348,306
105,708
905,857
1,316,372
664,530
-
802- PENSION - CITY EMPLOYEES
16,909,072
16,909,072
15,811,918
-
15,811,918
94%
16,909,072
-
802- PENSION - POLICE &FIRE
802 - FICA/MEDICARE
24,258,355
3,570,000
24,258,355
3,570,000
22,458,355
3,802,066
-
22,458,355
3,802,066
93%
107%
24,258,355
4,295,000
4,254,500
4,269,000
4,672,059
5,075
4,677,134
110%
4,672,059
(403,059) Increase Insurance premium Costs
See page 28 for current
projections; year over year
expenses flat; Mayl itself increased
by 11% . Assumes surplus to
accrue to GF and not ot offsetting
previous year medical self
insurance deficit
301 - HEALTH
302- FAIR RENT
303 - ELDERLY SERVICES
304 - CHILDREN & FAMILY SERV.
305 - SERVICES FOR DISABILITIES
308 - COMMUNITY SERV. ADMIN
804 - SELF INSURANCE
805- 851 HEALTH BENEFITS
0%
(742,032)
(100,000) Water for splash pads
-
See page 1 for detail
see page 1 - Overtime projected at
See Page 1 - overtime proejcted at
See Workers Comp, Medical
(2,500,000) Benefits & Pension
see page 8 for projected vacancy
(398,938) savings
Includes Capital Sweep phase #2
2,509,367 $443,456
(725,000)
64,074,348
64,074,348
56,234,819
-
56,234,819
88%
62,016,826
805-853 WORKERS COMP
8,310,206
8,218,206
7,892,347
-
7,892,347
96%
7,892,347
805-8530 WORKERS COMP- Other
Cntrl
1,425,000
1,269,500
1,107,526
1,269,500
100%
1,269,500
805 - LONGEVITY
670,000
653,000
654,186
-
654,186
100%
654,186
(1,186)
805- UNEMPLOYMENT
500,000
427,350
313,559
-
313,559
73%
427,350
-
988,000
988,000
966,461
-
966,461
98%
1,213,000
161,974
2,057,522
See page 28 for current
325,859 projections.
-
805-LIFE INSURANCE $730,000, RESERVE
LUMP SUM PAYMENTS $225,000 OPEB
CONTRIBUTION $15,000 AND PERFECT
ATTENDANCE $15,000
900 - EDUCATION
Separation pay higher due to
sworn
174,219,297
174,219,297
148,387,773
15,306,626
163,694,399
94%
Blizzard - Net FEMA
999 - Non -Personnel Savings Plan
PROJECTED EXPENDITURES
(225,000) increase in retirements -civilian &
174,219,297
1,578,864
-
486,400,365
-
486,400,365
-
439,880,774
-
21,201,862
4
461,082,636
-
95%
(1,600,000)
486,400,365
-
Assumes on budget
(1,578,864)
see page 8 plus $600 projected
1,600,000 encumbrance savings
(0)
FY 12-13 REVENUE ANALYSIS
FY 12-13
Appropriated
Budget
Projected
+/-
CITY SOURCES
PROPERTY TAXES
LICENSES, PERMITS & OTHER FEES
INVESTMENT INCOME
RENTS & FINES
PAYMENTS IN LIEU OF TAXES
OTHER TAXES AND ASSESSMENTS
MISCELLANEOUS & OTHER REVENUE
CITY SOURCES SUB-TOTAL
231,680,668
17,220,500
50,000
6,171,021
1,894,390
3,929,872
16,547,086
277,493,537
231,918,674
16,497,794
5,966,000
1,821,365
4,604,872
17,952,385
278,761,090
238,006
(722,706)
(50,000)
(205,021)
(73,025)
675,000
1,405,299
1,267,553
152,575,455
55,746,373
585,000
208,906,828
152,388,734
52,508,577
622,019
205,519,330
(186,721)
(3,237,796)
37,019
(3,387,498)
486,400,365
484,280,420
(2,119,945)
STATE SOURCES
STATE GRANTS FOR EDUCATION
STATE GRANTS & PILOTS
TELECOMMUNICATIONS PROPERTY TAX
STATE SOURCES SUB-TOTAL
GRAND TOTAL
5
GENERAL FUND REVENUE BUDGET
FISCAL YEAR 2012-13
MAY
DETAIL OF
GENERAL FUND REVENUE
FY 12-13
Approved
FY 2012-13
RECOGNIZED
PROJECTED
6/30/2013
(To Date)
VARIANCE
Projected
V.
Comment
Approved
Current City Taxes:
Real Estate
192,843,560
192,156,888
192,843,560
-
Collections .10% ahead at 97.60%
Personal Property
19,557,602
19,557,602
19,557,602
-
Total Collections YTD = $20,510,234 - Amount over
budget shown in Initiative 1.81% ahead of last yr.
Motor Vehicles
12,219,506
12,219,506
12,219,506
-
Supplemental Motor Vehicle
2,035,000
2,035,000
2,035,000
-
Current Interest
1,100,000
841,754
1,074,724
(25,276)
227,755,668
226,810,750
227,730,392
(25,276)
1,500,000
1,500,000
1,128,578
1,128,578
2,438,282
2,438,282
938,282
938,282
1,700,000
959,171
1,450,000
(250,000)
725,000
2,425,000
124,772
1,083,943
300,000
1,750,000
(425,000)
(675,000)
231,680,668
229,023,271
231,918,674
142,509,525
6,185,271
3,700,659
120,000
60,000
152,575,455
142,378,798
6,083,402
3,655,948
56,891
158,258,441
142,378,798
6,177,097
3,655,948
120,000
56,891
152,388,734
4,840,984
37,557,507
87,000
10,000
437,000
205,000
54,000
12,000
1,175,000
30,000
6,876,864
585,000
605,470
4,737,591
35,110,990
38,554
8,000
439,355
101,429
54,179
11,322
814,905
34,833
4,586,747
622,019
624,343
4,737,591
35,110,990
38,554
8,000
439,355
101,429
54,179
11,322
1,086,540
34,833
6,876,864
622,019
624,343
3,855,548
56,331,373
208,906,828
47,184,267
205,442,708
53,130,596
205,519,330
50,000
5,000
2,000
200,000
130,000
5,000
75,000
305,000
131,000
6,500
77,000
125,000
300,000
700,000
200,000
1,000
20,000
50,000
36,000
5,700,000
39,475
2,529
1,015
44,844
1,189
54,531
331,053
116,634
2,450
47,989
82,390
325,412
623,156
113,919
1,875
38,361
32,760
4,793,521
43,000
3,200
1,015
75,000
1,500
75,000
370,000
132,000
2,500
55,000
85,000
355,000
690,000
130,000
2,500
40,000
36,000
5,268,000
9,000,000
5,026,398
9,000,000
25,000
32,079
32,079
77,000
17,220,500
11,711,579
101,000
16,497,794
Total Collections YTD = $12,375,750 - Amount over
budget shown in Initiative .01% ahead of last yr.
Total Collections YTD = $2,054,702 - Amount over
budget shown in Initiative .83% behind last yr.
Tax Collection Initiatives:
Tax Initiatives
Delinquent City Taxes:
Real & Personal Property
Interest and Penalties
I. PROPERTY TAXES
State Grants for Education:
Education Cost Sharing
State Aid for Construction & Reconstruction
School Transportation
Education Legally Blind
Health Svc-Non-Public Schools
State Grants
PILOT: State Property
PILOT: Colleges & Hospitals
Distressed Cities Exemption
Tax Relief for the Elderly-Freeze
Homeowners Tax Relief-Elderly Circuit Breaker
Tax Abatement
Reimb.-Low Income Veterans
Reimb. - Disabled
PILOT: Machinery/Equipment
Shell Fish
Pequot Funds
Telecommunications Property Tax
Town Aid: Roads
Property Tax Relief
II.TOTAL STATE AID
Licenses/Permits/Services & Fees:
Other Agencies
Maps/Bid Documents
Ofc of Technology
Parks - Kiosks/vendors
Parks-Lighthouse.-Adm&Concession
Park Dept.-Carousel & Bldng
Park Dept.-Other Fees
Town Clerk/City Clerk
Police Service
Police - Animal Shelter
Fire Service
Fire Service Medical/Emergency Response Billing
Health Services
Registrar of Vital Stats.
P.W.-Public Space Lic./Permits
Public Works Evictions
Public Works Fees
Public Works Bulk Trash
Residential Parking
Traffic & Parking/Meter Receipts
Building Inspections
High School Athletics
Engineer's Cost Recovery
III. LICENSES PERMITS & FEES
3,384,577
6
Assumes collecting the same $ as where collected last
238,006 year to years end
(130,727)
(8,174)
(44,711)
(3,109)
(186,721)
(103,393)
(2,446,517)
(48,446)
(2,000)
2,355
(103,571)
179
(678)
(88,460) 4 payments at $271,635
4,833
37,019
18,873
(470,971) FY 12 actual = $3,384,577 - paid in August
(3,200,777)
(3,387,498)
(7,000)
(1,800)
(985)
(200,000)
(55,000)
(3,500)
65,000
1,000
(4,000)
(22,000)
(40,000)
55,000
(10,000)
(70,000)
1,500
(20,000)
(10,000)
(432,000) ytd up 10% - assumes $475k in June
-
Per Building Officla 6-27-13
7,079
Billed in June- Quinnipiac phase 2 $49k, Phase II $35,
24,000 Congress $17k
(722,706)
GENERAL FUND REVENUE BUDGET
FISCAL YEAR 2012-13
MAY
DETAIL OF
GENERAL FUND REVENUE
FY 12-13
Approved
FY 2012-13
RECOGNIZED
PROJECTED
6/30/2013
(To Date)
Income from Short Term Investments:
Interest Income
IV. INTEREST INCOME
Received from Rents:
Parks Employee Rents
Misc Comm Dev Rent
Coliseum Lots
Parking Space Rental
Received from Fines:
Superior Court
50,000
50,000
10,000
92,021
240,000
4,000
346,021
VARIANCE
Projected
V.
Comment
Approved
-
-
6,765
10,040
120,000
2,200
139,005
10,000
15,000
240,000
3,000
268,000
(50,000)
(50,000)
(77,021)
(1,000)
(78,021)
95,000
69,245
95,000
5,375,000
350,000
5,000
5,180,396
5,600,000
5,825,000
6,171,021
2,300
5,251,941
5,390,946
3,000
5,698,000
5,966,000
(350,000)
(2,000)
(127,000)
(205,021)
1,112,890
57,000
30,000
40,000
65,000
9,500
580,000
1,894,390
973,970
42,201
25,750
94,157
66,114
5,120
580,065
14,874
1,802,251
973,970
57,000
25,750
94,157
66,114
9,500
580,000
14,874
1,821,365
(138,920)
(4,250)
54,157
1,114
14,874
(73,025)
Real Estate Conveyance Tax
1,025,000
1,576,064
1,700,000
Yale Payment-Fire Services
2,704,872
2,704,872
2,704,872
200,000
166,667
200,000
3,929,872
4,447,603
4,604,872
675,000
Miscellaneous Other Revenue:
Controller
BABS Revenue
Off Track Betting
Personal Motor Vehicle Reimb
Welfare Department
I-95 Highway Expansion Program
Commission on Equal Opportunities
NHPA : PILOT
GNHWPCA:PILOT
1,000,000
891,088
885,000
20,000
20,000
125,000
10,000
2,500,000
639,593
781,796
891,088
726,580
10,641
262,544
304,200
900,000
891,088
800,000
12,000
270,000
2,500,000
639,593
(100,000)
(85,000)
(8,000)
(20,000)
145,000
(10,000)
-
Non-Profits - Voluntary payments
8,951,405
1,911,936
7,392,071
(1,559,334)
Sale of Martin Luther King School
1,500,000
1,500,000
1,500,000
Parking Tags
Parking Tag Amnesty Program
P.W. Public Space Violations
V. RENTS AND FINES
Payments in Lieu of Taxes:
So Central Regional Water Auth.
Parking Authority PILOTS
East view PILOT
Trinity Housing
52 Howe Street
Hospital of St. Raphael
Ninth Square
Temple Street Arcade
225,000 15% ytd over FY 12 - Assumes $500k June
Other Taxes and Assessments:
Air Rights Garage
Wall & High St.
United Illuminating Rebate-Energy Savings
VI. OTHER TAXES AND ASSESSMENTS AND MISC
GRAND TOTAL
Non-Profits:
Adnon Spiritual center & Other FY 12 = $31,167
Yale New Haven Hospital - FY 12 = $1,816,329
Casey Foundation FY 12 = $68,500
Yale University - FY 12 $5,476,075
-
-
486,400,365
464,254,776
484,280,420
68,000
46,032
1,911,936
7
No increase voluntary payment from YNHH - assumes
last years actual
-
42,633
1,405,299
2,007,274
47,633
17,952,385
24,378,622
716
-
3,000,000
47,633
6,436,418
12,686,272
1,797,188
-
3,000,000
5,000
16,547,086
22,371,348
FY 12-13
675,000 ytd up 58% - assumes $175k in June
(2,119,945) Under Budget
GENERAL FUND NPS SAVINGS PLAN AND PROJECTED VACANCY SAVINGS
FISCAL YEAR 2012-13
DEPARTMENT
111 - LEGISLATIVE SERVICES
131 - MAYOR'S OFFICE
132 - CAO
133 - CORPORATION COUNSEL
137 - FINANCE
139 - ASSESSOR'S OFFICE
152 - LIBRARY
160 - PARKS & RECREATION
161 - CITY/TOWN CLERK
162 - REGISTRAR OF VOTERS
200 - PUBLIC SAFETY COMM
201 - POLICE
202 - FIRE
301 - HEALTH
302- FAIR RENT
303 - ELDERLY SERVICES
304 - CHILDREN & FAMILY SERVICES
305 - SERVICES FOR DISABILITIES
308 - COMMUNITY SERVICES ADMIN
405 - NON PUBLIC TRANSPORTATION
501 - PUBLIC WORKS
502 - ENGINEERING
702- CITY PLAN
704 - TRAFFIC & PARKING
705 - EQUAL OPPORTUNITIES
721- OBIE
724 -ECONOMIC DEVELOPMENT
747 - LIVABLE CITY INITIATIVE
804 - SELF INSURANCE
805-853 WORKERS COMP OTHER CNTRL
NON-PERSONNEL TOTAL
{1}
{1}
{7}
FY 2012-13
Projected Vacancy
Savings
FY 2012-13
FY 2012-13
NPS only
Total
5-30-13
5-30-13
28,338
31,998
46,493
38,158
5,070
155,977
7,548
26,221
314,706
34,856
9,170
7,501
2,094
10,138
355,235
8,329
25,689
42,697
6,078
39,355
12,000
2,493
69,480
1,721
68
3,650
28,383
3,009
37,771
53,409
56,233
60,366
274
35,839
2,094
10,138
355,235
40,327
72,182
42,697
44,236
44,425
12,000
2,493
69,480
157,698
68
11,198
28,383
3,009
63,992
53,409
370,939
95,222
9,444
21,702
14,411
2,160
5,224
31,941
781
11,596
14,860
33,967
15,000
53,643
781
26,007
17,020
39,191
15,000
934,118
1,676,150
-
742,032
8
Comment
portion of vacancy Surplus to be used to offset overtime
Vacancy Surplus to be used to offset overtime
Vacancy Surplus to be used to offset overtime
Vacancy Surplus to be used to offset overtime
MAYOR’S PROPOSED GF ACTION PLAN PER SECTION 2-389 OF THE CITY ORDINANCES
The following Action Plan is a summary of the expenditure control and revenue initiative program currently underway to mitigate a potential deficit
by the close of FY 12-13.
1) 4th Quarter - Close Out
In conjunction with the Finance Department /Accounting Division, Management & Budget has commenced FY 12-13 close out with an additional
capital projects sweep as part of the closing.
Leg Services
Finance
Library
7,800
88,282
2009 energy conservation, computer hardware
5,833 2011 roof repair
Parks
51,270 various
Police
10,938 2010 sub-station repairs,
Fire
3,976 2010 rescue equipment
CSA
76,000 2010 homeless shelter
Public works
97,134 various
Engineering
81,195 2007 911 condolidation, 2008 bridges
TT & P
Econ Dev
LCI
2,039 2011 telecommunications
14,106 2011 façade,
4,876 2011 property management
443,449
2) Unassigned Fund Balance
In the event of an imbalance the unassigned fund balance will be used to balance the budget. Management & Budget will submit a
close out transfer including the per-audit operating results in the early fall after the independent auditors have completed their annual
review.
9
SUMMARY OF TAX COLLECTIONS
FISCAL YEAR 2012-13
MAY
CATEGORY
{1}
{2}
{3}
{5}
FY 11-12
FY 12-13
FY 12-13
2012-13
COLLECTIONS
TAX BUDGET
COLLECTIONS
PERCENT
COLLECTED
{3}/{2}
5/31/2012
5/31/2013
I. CURRENT TAXES
REAL ESTATE
PERSONAL PROPERTY
MOTOR VEHICLES
SUPPLEMENTAL MOTOR VEHICLE
CURRENT INTEREST
TAX INITAITIVES
SUB-TOTAL CURRENT COLLECTIONS
184,051,924
18,741,368
13,168,889
2,000,000
858,570
1,673,427
192,843,560
19,557,602
12,219,506
2,035,000
1,100,000
1,500,000
192,156,888
19,557,602
12,219,506
2,035,000
841,754
1,128,578
99.64%
100.00%
100.00%
100.00%
76.52%
75.24%
220,494,178
229,255,668
227,939,328
99.43%
1,323,740
484,405
1,700,000
725,000
959,171
124,772
56.42%
17.21%
1,808,145
2,425,000
1,083,943
44.70%
222,302,323
231,680,668
229,023,271
98.85%
II. DELINQUENT COLLECTIONS
DELINQUENT TAXES
DELINQUENT INTEREST
SUB-TOTAL DELINQUENT COLLECTIONS
GRAND TOTAL - TAX COLLECTIONS
10
SUMMARY OF INVESTMENTS
FISCAL YEAR 2012-13
May
GENERAL FUND INVESTMENTS
Fund
Type
Bank
EDUCATION
GENERAL
CAPITAL
GENERAL
CWF
GENERAL-TR
GENERAL-Cirma
GENERAL
GENERAL
GENERAL
UNION STATION
WEBSTER
CITIZENS
DREYFUS
CLASS
CLASS
CLASS
CLASS
TD BANK
START BANK
STIF
STIF
Rate
0.00%
0.01%
0.01%
0.01%
0.01%
0.01%
0.01%
0.20%
0.40%
0.12%
0.12%
Type
SWEEP
MMA
MMA
MMA
MMA
MMA
MMA
MMA
MMA
MMA
MMA
Principal
Amount
N/A
2,086,691
31,586,927
4,833,554
76,118
481,398
221,085
3,050,201
249,080
12,452,289
836,355
Interest
Amount
0
24
282
39
1
5
1
25
85
1,694
57
2,213
SPECIAL FUND INVESTMENTS
Fund
Type
SELF INS. RES.
SPECIAL FUNDS
Bank
STIF
CLASS
Rate
0.12%
0.01%
Type
MMA
MMA
Principal
Amount
295
1,883,396
Interest
Amount
0
15
15
11
SUMMARY OF OUTSTANDING DEBT
FISCAL YEAR 2012-13
May
Bonds Outstanding
Principal Retired
as of 6/30/12
7/12-04/13
Principal Retired in FY2013 G.O. Bonds
May 2013
Principal Defeased Outstanding Balance
and QZAB Bonds
May 31, 2013
General Obligation
City
196,014,797
15,842,869
2,446,123
39,539,090
9,502,045
207,762,850
Education
306,423,967
21,867,989
1,443,877
51,160,910
40,032,955
294,240,057
Outstanding Balance
May 31, 2013
502,002,907
Includes: General Obligation and Qualified Zone Academy Bonds
CWF bonds are no longer is City's name.
As of 7/1/07, CWF debt became a cost sharing agreement.
12
SUMMARY OF OVERTIME BY DEPARTMENT, BY WEEK
FISCAL YEAR 2012-13
MAY
AGENCY
111 - LEGISLATIVE SERVICES
133 - CORP COUNSEL
137 - FINANCE
w/e
5/3/2013
w/e
5/17/2013
w/e
5/24/2013
w/e
5/31/2013
Gross
Overtime
74
-
174
-
199
49
-
247
-
-
504
276
1,026
-
-
-
532
321
853
139 - ASSESSOR
152 - LIBRARY
w/e
5/10/2013
23
-
-
-
6,878
9,120
5,185
8,474
5,949
35,607
161 - CITY/TOWN CLERK
-
-
-
-
-
-
162 - REG. OF VOTERS
-
-
-
-
-
-
10,506
12,411
11,117
9,856
8,758
52,648
201- POLICE
134,630
179,763
128,707
93,899
143,681
680,680
202- FIRE
160 - PARKS & RECREATION
200- PUBLIC SAFETY COMMUNI.
-
374
123
23
118,192
92,650
157,313
127,468
103,703
599,326
301 - HEALTH
1,048
1,098
1,024
733
2,304
6,206
501 - PUBLIC WORKS
1,684
2,061
2,035
3,873
5,081
14,735
-
-
146
265
320
732
2,680
3,401
2,313
3,896
2,869
15,160
721 - OFFICE OF BUILDING AND INS.
220
-
-
714
412
1,345
747 - LCI
281
281
281
281
281
1,405
20,343
22,725
15,448
25,944
19,507
103,967
296,804
323,511
323,744
276,686
293,463
1,514,209
702- CITY PLAN
704 - TRAFFIC & PARKING
900 - EDUCATION
TOTAL
13
SUMMARY OF OVERTIME BY DEPARTMENT, BY MONTH
FY 2012-13
MAY
AGENCY
111 - LEGISLATIVE SERV
JULY
AUG.
SEP
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
GROSS
EXPEND.
Reimbursements
Year to Date
Net
Total
BUDGET
187
174
162
291
249
149
274
295
407
287
374
2,848
2,848
3,000
66
44
44
88
1,047
44
88
216
115
98
123
1,973
1,973
800
137 - FINANCE
111
1,398
-
408
-
623
-
-
693
1,026
4,328
4,328
5,501
139 - ASSESSOR'S OFC
-
-
-
-
-
-
-
-
-
-
853
853
853
100
152 - LIBRARY
-
-
219
-
-
-
-
-
-
-
23
241
241
8,500
324,085
133- CORP COUNSEL
160 - PARKS
69
38,120
43,258
27,488
23,061
56,083
6,889
13,791
50,819
13,381
15,589
35,607
296,210
182,000
161 - CITY/TOWN CLERK
148
525
-
1,845
3,510
868
-
-
-
-
-
6,897
6,897
7,500
162 - REG. OF VOTERS
-
2,410
-
6,280
10,417
-
-
-
406
-
-
19,513
19,513
8,000
200- PUBLIC SAFETY COMM
(27,875)
BALANCE
152
(1,173)
1,173
(753)
8,259
(114,210)
603
(11,513)
62,897
91,841
72,650
99,445
96,702
42,839
56,088
63,387
58,043
59,734
52,648
756,275
(356,799)
399,476
265,000
(134,476)
201- POLICE
433,085
739,206
550,773
521,375
775,210
543,478
447,439
487,213
519,819
609,961
680,680
6,308,241
(529,496)
5,778,745
3,412,000
(2,366,745)
202- FIRE
437,929
643,904
466,254
424,827
631,237
546,267
464,824
564,775
586,670
474,811
599,326
5,840,826
5,840,826
4,099,000
(1,741,826)
2,176
4,428
2,612
3,044
4,313
121
1,161
170
1,721
3,245
6,206
29,198
29,198
21,000
(8,198)
27,033
20,300
30,739
28,967
135,032
27,896
74,302
187,910
62,808
19,842
14,735
629,563
629,563
564,000
(65,563)
301 - HEALTH
501- PUBLIC WORKS
702- CITY PLAN
1,014
393
866
1,032
1,102
380
1,043
238
1,255
1,025
732
9,081
704 - TRAFFIC & PARKING
7,767
12,314
17,779
9,845
18,448
12,269
11,202
20,814
13,289
9,948
15,160
148,834
(5,850)
(2,980)
721 - OBIE
747 - LCI
900 - EDUCATION
TOTAL
507
845
745
1,118
3,453
1,535
575
663
980
672
1,345
12,437
1,124
1,204
1,572
1,124
1,405
1,124
1,124
2,891
1,396
1,124
1,405
15,490
19,439
82,594
60,165
77,117
115,605
121,506
76,030
94,303
100,019
60,624
103,967
911,370
1,031,604
1,644,838
1,232,069
1,199,867
1,853,813
1,305,989
1,147,942
1,473,761
1,360,308
1,257,652
1,514,209
15,022,053
14
9,081
10,000
142,984
110,000
(32,984)
919
(2,457)
9,457
7,000
15,490
20,000
4,510
(187,065)
724,305
720,000
(4,305)
(1,110,066)
13,911,987
9,443,401
(4,468,586)
SPECIAL FUND EXPENDITURE AND REVENUE PROJECTION
EXPLANATION
Please note that expenditure and revenue projections contained in this report are estimates
based upon information currently available.
The Agencies listed below have significant budget variances that we feel warrant an explanation.
Surplus Explanation
If a large surplus exists in a special fund, it is usually the result of a multi-year award. Multi
year awards are based on the completion of a project or the period of time approved for the
operation of a particular program rather than the City’s fiscal year.
15
SPECIAL FUND EXPENDITURE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
AGENCY
FUND
131 MAYORS OFFICE
2034 CONTROLLER'S REVOLVING FUND
2173 PRISON REENTRY PROGRAM
CHIEF ADMINISTRATIVE OFFICE TOTAL
132 CHIEF ADMINISTRATOR'S OFFICE
2029 EMERGENCY MANAGEMENT
2063 MISC FEDERAL GRANTS
2096 MISCELLANEOUS GRANTS
2133 MISC STATE GRANTS
2150 HOMELAND SECURITY GRANTS
2174 ENERGY EFFICIENCY BLOCK GRANT
2180 PSEG
CHIEF ADMINISTRATIVE OFFICE TOTAL
137 DEPARTMENT OF FINANCE
2142 CITY PROPERTY FUND
2143 CONTROLLERS SPECIAL FUND
2184 SEPTEMBER 2011 STORM FUND
2188 STORM SANDY FUND
2925 COMMUNITY DEVEL BLOCK GRANT
DEPARTMENT OF FINANCE TOTAL
152 LIBRARY
2062 MISC PRIVATE GRANTS
2183 LIBRARY CAPITAL CAMPAIGN
LIBRARY TOTAL
160 PARKS & RECREATION
2044 LIGHTHOUSE CAROUSEL EVENT FUND
2063 MISC FEDERAL GRANTS
2100 PARKS SPECIAL RECREATION ACCT
2133 MISC STATE GRANTS
PARKS & RECREATION TOTAL
162 REGISTRAR OF VOTERS
2152 DEMOCRACY FUND
REGISTRAR OF VOTERS TOTAL
200 PUBLIC SAFETY COMMUNICATIONS
2030 C - MED
2220 FIRE REGIONAL COMMUNICATIONS
PUBLIC SAFETY COMMUNICATIONS TOTAL
201 POLICE SERVICES
2085 THE HUMANE COMMISSION
2134 POLICE APPLICATION FEES
2150 HOMELAND SECURITY GRANTS
2175 LAW ENFORCEMENT TECH GRANT
2211 LOCAL LAW ENFOR BLOCK GRANT
2213 ANIMAL SHELTER
2214 POLICE N.H. REGIONAL PROJECT
2216 POLICE YOUTH ACTIVITIES
2217 POLICE EQUIPMENT FUND
2218 POLICE FORFEITED PROP FUND
2224 MISC POLICE DEPT GRANTS
2225 MISC POLICE DEPT FEDERAL GRANT
2227 JUSTICE ASSISTANCE GRANT PROG
2228 COPS-AMERICAN RECOVERY ACT
2230 COPS TECHNOLOGY
2231 P.A.S.T. GRANT
2281 STATE FORFEITURE FUND
POLICE SERVICES TOTAL
{1}
{2}
FY 2012-13
Budget
FY 2011-12
Carryover
{3}
FY 2012-13
Adjusted
Budget
5/31/2013
{4}
Total
Expended /
Encumbered
5/31/2013
{5}
Projected
Expenses
6/30/2013
{6}
Projected
Surplus/
(Deficit)
{3} - {5}
25,000
0
25,000
461
345,671
346,132
25,461
345,671
371,132
25,000
181,416
206,416
25,461
186,967
212,429
0
158,704
158,704
0
0
0
0
942,000
0
0
942,000
271,732
127
30,000
113,639
196,264
95,462
432,072
1,139,295
271,732
127
30,000
113,639
1,138,264
95,462
432,072
2,081,295
68,588
0
13,600
35,454
330,441
92,929
3,001
544,014
271,732
127
30,000
113,639
1,138,264
95,462
432,072
2,081,295
0
0
0
0
0
0
0
0
95,463
141,328
601,213
2,508,637
411,528
3,758,169
0
0
0
0
293,720
293,720
95,463
141,328
601,213
2,508,637
705,248
4,051,889
83,382
45,935
195,995
2,508,637
388,055
3,222,003
95,463
106,189
601,213
2,508,637
705,248
4,016,750
0
35,139
0
0
0
35,139
22,392
0
22,392
0
7,533
7,533
22,392
7,533
29,925
16,278
7,533
23,811
22,274
7,533
29,807
118
0
118
109,110
0
482,526
0
591,636
48,680
1,726
126,429
420
177,255
157,790
1,726
608,954
420
768,890
128,875
0
174,060
0
302,934
157,790
1,726
222,155
420
382,091
0
0
386,799
0
386,799
0
0
299,212
299,212
299,212
299,212
119,045
119,045
200,000
200,000
99,212
99,212
1,563,202
476,421
2,039,623
83,752
235,806
319,558
1,646,954
712,227
2,359,181
1,456,926
485,981
1,942,907
1,646,954
712,227
2,359,181
0
0
0
0
0
0
0
0
4,699
243,200
976
1,521
352
0
0
316,498
750,000
0
0
0
1,317,245
32
1,925
57,223
57,646
7,446
88,003
48,200
20,207
48,777
55,153
4,627
8,162
422,420
611,664
225,000
271,424
88,729
2,016,639
32
1,925
57,223
57,646
7,446
92,702
291,400
21,184
50,298
55,505
4,627
8,162
738,918
1,361,664
225,000
271,424
88,729
3,333,884
0
1,925
0
57,646
0
35,586
213,706
919
39
51,487
0
0
515,165
308,123
4,385
132,005
33,423
1,354,409
0
1,925
0
57,646
0
38,648
291,400
3,476
10,190
55,167
0
0
738,918
1,062,208
225,000
271,424
88,729
2,844,731
32
0
57,223
0
7,446
54,054
0
17,707
40,108
338
4,627
8,162
0
299,456
0
0
0
489,154
16
SPECIAL FUND EXPENDITURE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
AGENCY
FUND
202 FIRE SERVICES
2034 CONTROLLER'S REVOLVING FUND
2096 MISCELLANEOUS GRANTS
2108 FIRE APPLICATION FEES
FIRE SERVICES TOTAL
301 HEALTH DEPARTMENT
2017 COMMUNITY FOUNDATION
2028 STD CONTROL
2031 MATERNAL & CHILD HEALTH
2038 STATE HEALTH SUBSIDY
2040 COMMUNICABLE DISEASE CONTROL
2048 HEALTH DEPT GRANTS
2062 MISC PRIVATE GRANTS
2070 HUD LEAD BASED PAINT
2080 LEAD POISONING PREVENTION
2084 RYAN WHITE - TITLE I
2096 MISCELLANEOUS GRANTS
2136 HUD LEAD PAINT REVOLVING FUND
2138 STATE BIOTERRORISM GRANTS
2160 MUNICIPAL ID PRGORAM
2161 CHILDREN'S TRUST FUND
2925 COMMUNITY DEVEL BLOCK GRANT
PUBLIC HEALTH TOTAL
303 ELDERLY SERVICES
2032 SOCIAL SERVICES BLOCK GRANT
2925 COMMUNITY DEVEL BLOCK GRANT
ELDERLY SERVICES TOTAL
304 YOUTH SERVICES
2035 YOUTH SERVICES BUREAU
2050 ECONOMIC DEV. REVOLVING FUND
2146 YOUTH AT WORK
2153 MAYORS YOUTH INITIATIVE
2156 UNINSURED YOUTH
2158 MAYORS TASK FORCE FOR TPP
2159 STREET OUTREACH WORKER PROGRAM
2925 COMMUNITY DEVEL BLOCK GRANT
YOUTH SERVICES TOTAL
305 SERVICES TO PERSONS WITH DISABILITIES
2096 MISCELLANEOUS GRANTS
2133 MISC STATE GRANTS
PERSONS WITH DISABILITIES TOTAL
308 COMMUNITY SERVICES ADMINISTRATION
2020 FOOD STAMP EMPLYMNT & TRAINING
2041 SAGA SUPPORT SERVICES
2050 ECONOMIC DEV. REVOLVING FUND
2062 MISC PRIVATE GRANTS
2065 MCKINNEY - HUD HOMELESS CTR
2066 INNO. HOMELESS INITIATIVE
2073 HOUSING OPP FOR PERSONS WITH
2095 SAGA SUPPORT SERVICES FUND
2137 REDUCE ALCOHOL ABUSE BOE
2160 MUNICIPAL ID PRGORAM
2925 COMMUNITY DEVEL BLOCK GRANT
COMMUNITY SERVICES ADMIN TOTAL
501 PUBLIC WORKS
2925 COMMUNITY DEVEL BLOCK GRANT
PUBLIC WORKS TOTAL
{1}
{2}
FY 2012-13
Budget
FY 2011-12
Carryover
{3}
FY 2012-13
Adjusted
Budget
5/31/2013
{4}
Total
Expended /
Encumbered
5/31/2013
{5}
Projected
Expenses
6/30/2013
{6}
Projected
Surplus/
(Deficit)
{3} - {5}
0
0
139,670
139,670
1,383
1,035
17,826
20,245
1,383
1,035
157,496
159,915
0
0
14,530
14,530
1,383
1,035
157,496
159,915
0
0
0
0
0
342,367
423,936
155,230
172,342
26,563
0
0
182,971
2,766,662
18,000
0
131,892
13,000
248,517
112,749
4,594,228
147,669
50,367
0
0
81,706
0
9,723
847,000
13,666
5,556,176
716
0
4,730
0
0
105,705
6,817,459
147,669
392,734
423,936
155,230
254,048
26,563
9,723
847,000
196,637
8,322,838
18,716
0
136,622
13,000
248,517
218,454
11,411,687
111,074
256,159
345,843
102,076
167,462
26,554
4,012
306,210
162,387
6,112,019
18,000
0
87,114
3,525
176,644
127,229
8,006,307
147,669
324,693
423,936
155,230
202,300
26,563
9,723
322,171
196,637
6,548,604
18,716
0
136,622
13,000
211,728
198,843
8,936,437
0
68,041
0
0
51,747
0
0
524,829
0
1,774,233
0
0
0
0
36,789
19,610
2,475,249
0
54,204
54,204
85
0
85
85
54,204
54,289
0
54,108
54,108
85
54,204
54,289
0
0
0
132,747
0
529,157
420,004
0
0
237,500
239,380
1,558,788
0
40,000
580,860
3,316
77,366
1,262
323,919
0
1,026,723
132,747
40,000
1,110,017
423,320
77,366
1,262
561,419
239,380
2,585,511
73,379
26,577
988,998
283,997
8,000
48
238,419
239,380
1,858,798
128,222
40,000
1,053,601
387,236
77,366
1,262
238,419
239,380
2,165,486
4,525
0
56,416
36,084
0
0
323,000
0
420,026
0
0
0
26,552
6,479
33,031
26,552
6,479
33,031
0
4,900
4,900
0
6,479
6,479
26,552
0
26,552
130,969
177,430
0
4,000
292,032
0
1,049,881
265,499
0
8,505
170,285
2,098,602
189,660
43,545
40,000
8,982
91,450
10,544
38,865
(0)
5,535
34,350
0
462,931
320,629
220,975
40,000
12,982
383,482
10,544
1,088,746
265,499
5,535
42,855
170,285
2,561,533
44,726
102,568
20,000
9,291
291,122
355
1,049,881
98,299
0
17,782
170,285
1,804,309
291,127
191,403
40,000
12,982
383,482
10,544
1,088,746
265,499
0
22,882
170,285
2,476,951
29,503
29,572
0
0
0
0
0
0
5,535
19,973
0
84,582
0
0
28,089
28,089
28,089
28,089
23,906
23,906
28,089
28,089
0
0
17
SPECIAL FUND EXPENDITURE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
AGENCY
FUND
702 CITY PLAN
2013 BROADWAY CONSTRUCTION PROGRAM
2022 CITY PLAN CAM URBAN WATER
2053 EDI SPECIAL PROJECTS GRANT
2091 LONG WHARF PIER
2110 FARMINGTON CANAL LINE
2133 MISC STATE GRANTS
2140 LONG WHARF PARCELS G AND H
2179 RT 34 RECONSTRUCTION
2185 BOATHOUSE AT CANAL DOCK
2925 COMMUNITY DEVEL BLOCK GRANT
CITY PLAN TOTAL
704 TRAFFIC AND PARKING
2034 CONTROLLER'S REVOLVING FUND
2925 COMMUNITY DEVEL BLOCK GRANT
TRAFFIC AND PARKING TOTAL
705 COMM. ON EQUAL OPPORTUNITIES
2042 CEO SCHOOL CONSTRUCTION PROG
2178 CONSTRUCTION WORKFORCE INIT
2187 CT GREEN JOBS FUNNEL
EQUAL OPPORTUNITIES TOTAL
724 ECONOMIC DEVELOPMENT
2050 ECONOMIC DEV. REVOLVING FUND
2057 MILL RIVER INDUSTRIAL PARK
2062 MISC PRIVATE GRANTS
2063 MISC FEDERAL GRANTS
2064 RIVER STREET MUNICIPAL DEV PRJ
2096 MISCELLANEOUS GRANTS
2130 BUS DEV SEC 108 INVESTMENT FND
2131 BUS DEV SEC 108 REPAYMENT FUND
2132 BUS DEV ED1 FUND
2133 MISC STATE GRANTS
2139 MID-BLOCK PARKING GARAGE
2149 PORT AUTHORITY
2155 ECONOMIC DEVELOPMENT MISC REV
2165 YNHH HOUSING & ECO DEVELOP
2177 SMALL & MINORITY BUSINESS DEV
2181 US EPA BROWNFIELDS CLEAN-UP
2189 RT 34 DOWNTOWN CROSSING
2925 COMMUNITY DEVEL BLOCK GRANT
ECONOMIC DEVELOPMENT TOTAL
747 LIVABLE CITY INITIATIVE
2009 LOWER NEWHALLVILLE
2024 HOUSING AUTHORITY
2050 ECONOMIC DEV. REVOLVING FUND
2060 INFILL UDAG LOAN REPAYMENT
2068 HUD 108 LOAN REPAYMENT
2069 HOME - HUD
2070 HUD LEAD BASED PAINT
2092 URBAN ACT
2094 PROPERTY MANAGEMENT
2136 HUD LEAD PAINT REVOLVING FUND
2148 RESIDENTIAL RENTAL LICENSES
2170 LCI AFFORDABLE HOUSING CONST
2171 NEIGHBORHOOD STABILIZATION PRG
2182 HUD CHALLENGE GRANT
2925 COMMUNITY DEVEL BLOCK GRANT
LIVABLE CITY INITIATIVE TOTAL
GENERAL GOV SUB-TOTAL
{1}
{2}
FY 2012-13
Budget
FY 2011-12
Carryover
{3}
FY 2012-13
Adjusted
Budget
5/31/2013
{4}
Total
Expended /
Encumbered
5/31/2013
{5}
Projected
Expenses
6/30/2013
{6}
Projected
Surplus/
(Deficit)
{3} - {5}
0
0
0
0
0
0
0
0
25,987,000
234,889
26,221,889
145,336
492
337
255
961,583
64,620
2,197,787
3,088,572
0
0
6,458,982
145,336
492
337
255
961,583
64,620
2,197,787
3,088,572
25,987,000
234,889
32,680,871
0
0
0
0
400,286
0
1,283,778
2,252,612
0
208,348
4,145,024
145,336
492
337
255
961,583
0
2,197,787
3,088,572
0
234,889
6,629,251
0
0
0
0
0
64,620
0
0
25,987,000
0
26,051,620
0
70,000
70,000
150,592
9,599
160,192
150,592
79,599
230,192
26,801
4,203
31,003
26,801
79,599
106,400
123,792
0
123,792
161,573
150,000
306,070
617,643
127,428
33,886
0
161,315
289,001
183,886
306,070
778,957
195,007
33,886
149,550
378,443
199,763
183,886
306,070
689,719
89,238
0
0
89,238
0
0
0
0
24,768
0
0
0
0
0
0
0
133,812
163
5,000
0
24,850,000
58,000
25,071,743
168,526
239
61,739
1
6,471,741
98,447
81,346
56,781
546,566
686,885
2,126,233
234,015
126,584
890,267
3,190
1,513,351
0
216,549
13,282,461
168,526
239
61,739
1
6,496,509
98,447
81,346
56,781
546,566
686,885
2,126,233
234,015
260,396
890,429
8,190
1,513,351
24,850,000
274,549
38,354,203
121
0
0
1
3,828,854
0
1,778
200
48,084
258,156
755,250
0
164,344
639,500
6,819
560,851
13,699,671
41,041
20,004,670
6,500
0
0
1
6,496,509
98,447
81,346
56,781
546,566
686,885
2,126,233
234,015
260,396
890,429
8,190
1,513,351
13,699,671
190,391
26,895,712
162,026
239
61,739
0
0
0
0
0
0
0
0
0
0
0
0
0
11,150,329
84,158
11,458,491
0
268,000
0
129,533
0
989,371
0
0
126,466
38,468
287,446
0
0
0
2,326,278
4,165,562
73,288,392
3,968
0
24,312
2,195,884
40,847
2,875,099
1,633,000
353,875
17,666
195,508
0
200,000
1,631,746
949,717
1,494,888
11,616,509
44,667,366
3,968
268,000
24,312
2,325,418
40,847
3,864,470
1,633,000
353,875
144,132
233,976
287,446
200,000
1,631,746
949,717
3,821,165
15,782,071
117,955,757
3,968
177,529
0
100,711
1,859
2,419,093
336,190
332,453
129,320
63,359
204,318
0
1,593,135
872,771
2,379,593
8,614,299
52,655,837
3,968
268,000
10,000
100,711
40,847
3,507,330
544,333
332,453
144,132
63,359
287,446
200,000
1,631,746
949,717
3,129,071
11,213,113
71,488,124
0
0
14,312
2,224,707
0
357,139
1,088,667
21,422
0
170,616
0
0
0
0
692,094
4,568,957
46,467,633
18
SPECIAL FUND EXPENDITURE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
AGENCY
FUND
900 EDUCATION
2090 CHILD DEVELOPMENT PROGRAM BOE
2101 CHILD DEV - FOOD NUTRITION
2501 TITLE 1 FEDERAL
2503 ED ADULT BASIC CASH
2504 PRESCHOOL HANDICAPPED
2505 VOC. ED. REVOLVING FUND
2508 MODEL LEARN. DISABILITES
2511 INTEGRATED ARTS CURRICULUM
2512 LEE H.S. PARENTING
2517 MAGNET SCHOOLS ASSISTANCE
2518 STATE BILINGUAL ED
2519 CAREER EXPLORATION
2521 EDUCATION FOOD SERVICES
2523 EXTENDED DAY KINDERGARTEN
2528 PRIVATE FOUNDATION GRTS
2531 EDUCATION CHAPTER I
2532 EDUCATION HEAD START
2534 MEDICAID REIMBURSEMENT
2544 GATES FOUNDATION
2545 FOREIGN LANGUAGE ASSISTANCE
2546 SCHOOL IMPROVEMENTS
2547 EDUCATION JOBS FUND
2548 TEACHER INCENTIVE FUND
2568 ED HEAD START - USDA
2579 84-85 PRIORITY SCHOOLS
2580 JOBS FOR CT YOUTH
EDUCATION SUB-TOTAL
GRAND TOTALS
{1}
{2}
FY 2012-13
Budget
FY 2011-12
Carryover
1,485,000
102,000
36,218
3,010,288
5,980,311
725,440
440,118
2,444,394
2,081,938
5,353,837
290,789
1,380,325
11,083,738
9,890,438
2,376,102
11,587,527
6,864,115
120,867
111,042
104,570
4,108,096
5,868,895
3,185,760
702,776
7,677,463
85,034
87,097,081
160,385,473
0
7,687
4,848
0
0
0
0
0
0
0
386,664
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
399,199
45,066,565
19
{3}
FY 2012-13
Adjusted
Budget
5/31/2013
{4}
Total
Expended /
Encumbered
5/31/2013
1,485,000
109,687
41,066
3,010,288
5,980,311
725,440
440,118
2,444,394
2,081,938
5,353,837
677,453
1,380,325
11,083,738
9,890,438
2,376,102
11,587,527
6,864,115
120,867
111,042
104,570
4,108,096
5,868,895
3,185,760
702,776
7,677,463
85,034
87,496,280
205,452,037
1,485,000
87,500
41,066
2,595,035
4,747,573
424,721
357,536
1,922,778
1,779,902
3,718,963
509,799
921,645
11,080,747
9,082,173
1,469,906
8,625,229
6,322,593
81,968
62,792
90,743
3,436,131
3,773,410
81,160
665,349
6,469,575
44,175
69,877,467
122,533,304
{5}
Projected
Expenses
6/30/2013
1,485,000
109,687
41,066
3,010,288
5,980,311
725,440
440,118
2,444,394
2,081,938
5,353,837
677,453
1,380,325
11,083,738
9,890,438
2,376,102
11,587,527
6,864,115
120,867
111,042
104,570
4,108,096
5,868,895
3,185,760
702,776
7,677,463
85,034
87,496,280
158,984,404
{6}
Projected
Surplus/
(Deficit)
{3} - {5}
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
46,467,633
SPECIAL FUND REVENUE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
FUND
2009
2013
2017
2020
2022
2024
2028
2029
2030
2031
2032
2034
2035
2038
2040
2041
2042
2044
2048
2050
2053
2057
2060
2062
2063
2064
2065
2066
2068
2069
2070
2073
2080
2084
2085
2090
2091
2092
2094
2095
2096
2100
2101
2108
2110
2130
2131
2132
2133
LOWER NEWHALLVILLE
BROADWAY CONSTRUCTION PROGRAM
COMMUNITY FOUNDATION
FOOD STAMP EMPLYMNT & TRAINING
CITY PLAN CAM URBAN WATER
HOUSING AUTHORITY
STD CONTROL
EMERGENCY MANAGEMENT
C - MED
MATERNAL & CHILD HEALTH
SOCIAL SERVICES BLOCK GRANT
CONTROLLER'S REVOLVING FUND
YOUTH SERVICES BUREAU
STATE HEALTH SUBSIDY
COMMUNICABLE DISEASE CONTROL
SAGA SUPPORT SERVICES
CEO SCHOOL CONSTRUCTION PROG
LIGHTHOUSE CAROUSEL EVENT FUND
HEALTH DEPT GRANTS
ECONOMIC DEV. REVOLVING FUND
EDI SPECIAL PROJECTS GRANT
MILL RIVER INDUSTRIAL PARK
INFILL UDAG LOAN REPAYMENT
MISC PRIVATE GRANTS
MISC FEDERAL GRANTS
RIVER STREET MUNICIPAL DEV PRJ
MCKINNEY - HUD HOMELESS CTR
INNO. HOMELESS INITIATIVE
HUD 108 LOAN REPAYMENT
HOME - HUD
HUD LEAD BASED PAINT
HOUSING OPP FOR PERSONS WITH
LEAD POISONING PREVENTION
RYAN WHITE - TITLE I
THE HUMANE COMMISSION
CHILD DEVELOPMENT PROGRAM BOE
LONG WHARF PIER
URBAN ACT
PROPERTY MANAGEMENT
SAGA SUPPORT SERVICES FUND
MISCELLANEOUS GRANTS
PARKS SPECIAL RECREATION ACCT
CHILD DEV - FOOD NUTRITION
FIRE APPLICATION FEES
FARMINGTON CANAL LINE
BUS DEV SEC 108 INVESTMENT FND
BUS DEV SEC 108 REPAYMENT FUND
BUS DEV ED1 FUND
MISC STATE GRANTS
{1}
{2}
FY 2012-13
Budget
FY 2011-12
Carryover
0
0
0
130,969
0
268,000
342,367
0
1,563,202
423,936
0
25,000
132,747
155,230
172,342
177,430
161,573
109,110
26,563
0
0
0
129,533
26,392
0
24,768
292,032
0
0
989,371
0
1,049,881
182,971
2,766,662
0
1,485,000
0
0
126,466
265,499
18,000
482,526
102,000
139,670
0
0
0
0
0
3,968
145,336
147,669
189,660
492
0
50,367
271,732
83,752
0
85
152,437
0
0
81,706
43,545
127,428
48,680
0
272,839
337
239
2,195,884
80,444
1,854
6,471,741
91,450
10,544
40,847
2,875,099
2,480,000
38,865
13,666
5,556,176
32
0
255
353,875
17,666
(0)
156,750
126,429
7,687
17,826
961,583
81,346
56,781
546,566
872,043
20
{3}
FY 2012-13
Adjusted
Budget as of
5/31/2013
3,968
145,336
147,669
320,629
492
268,000
392,734
271,732
1,646,954
423,936
85
177,437
132,747
155,230
254,048
220,975
289,001
157,790
26,563
272,839
337
239
2,325,418
106,836
1,854
6,496,509
383,482
10,544
40,847
3,864,470
2,480,000
1,088,746
196,637
8,322,838
32
1,485,000
255
353,875
144,132
265,499
174,750
608,954
109,687
157,496
961,583
81,346
56,781
546,566
872,043
{4}
{5}
FY 2012-13
Revenue
5/31/2013
Projected
Revenue
FY 12-13
0
0
74,244
126,953
0
191,631
74,518
122,827
1,442,905
307,952
0
4,500
101,885
153,336
217,921
177,319
244
151,036
26,563
0
0
0
156,895
11,518
0
566,899
228,045
1,996
19
1,547,766
272,890
770,117
182,971
5,727,179
0
1,485,000
0
41
126,466
31
67,720
227,079
42,861
139,670
184,444
16,671
10
83,536
52,859
3,968
145,336
147,669
291,127
492
268,000
324,693
271,732
1,646,954
423,936
85
53,645
128,222
155,230
217,921
191,403
199,763
157,790
26,563
96,500
337
0
156,895
44,979
1,854
6,496,509
383,482
10,544
40,847
3,507,330
866,504
1,088,746
196,637
6,548,604
0
1,485,000
255
332,453
144,132
265,499
148,198
227,079
109,687
157,496
961,583
81,346
56,781
546,566
807,423
{6}
Variance
Projected
v. Budget
{3} - {5}
0
0
0
29,503
0
0
68,041
0
0
0
0
123,792
4,525
0
36,127
29,572
89,238
0
0
176,339
0
239
2,168,523
61,857
0
0
0
0
0
357,139
1,613,496
0
0
1,774,233
32
0
0
21,422
0
0
26,552
381,875
0
0
0
0
0
0
64,620
SPECIAL FUND REVENUE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
2134
2136
2137
2138
2139
2140
2142
2143
2146
2148
2149
2150
2152
2153
2154
2155
2156
2158
2159
2160
2161
2162
2164
2165
2166
2170
2171
2172
2173
2174
2175
2176
2177
2178
2179
2180
2181
2182
2183
2184
2185
2187
2188
2189
2211
2213
2214
2216
2217
{1}
{2}
FUND
FY 2012-13
Budget
FY 2011-12
Carryover
POLICE APPLICATION FEES
HUD LEAD PAINT REVOLVING FUND
REDUCE ALCOHOL ABUSE BOE
STATE BIOTERRORISM GRANTS
MID-BLOCK PARKING GARAGE
LONG WHARF PARCELS G AND H
CITY PROPERTY FUND
CONTROLLERS SPECIAL FUND
YOUTH AT WORK
RESIDENTIAL RENTAL LICENSES
PORT AUTHORITY
HOMELAND SECURITY GRANTS
DEMOCRACY FUND
MAYORS YOUTH INITIATIVE
CASA FAMILIA STATE HOME FUNDS
ECONOMIC DEVELOPMENT MISC REV
UNINSURED YOUTH
MAYORS TASK FORCE FOR TPP
STREET OUTREACH WORKER PROGRAM
MUNICIPAL ID PRGORAM
CHILDREN'S TRUST FUND
ELDERLY SERVICES OUTREACH
HIV/AIDS HEALTH CARE SUPPORT
YNHH HOUSING & ECO DEVELOP
EMERGENCY DEMOLITION FUND
LCI AFFORDABLE HOUSING CONST
NEIGHBORHOOD STABILIZATION PRG
HOMELESS PREV RAPID RE-HOUSING
PRISON REENTRY PROGRAM
ENERGY EFFICIENCY BLOCK GRANT
LAW ENFORCEMENT TECH GRANT
ARRA PORT SECURITY GRANT
SMALL & MINORITY BUSINESS DEV
CONSTRUCTION WORKFORCE INIT
RT 34 RECONSTRUCTION
PSEG
US EPA BROWNFIELDS CLEAN-UP
HUD CHALLENGE GRANT
LIBRARY CAPITAL CAMPAIGN
SEPTEMBER 2011 STORM FUND
BOATHOUSE AT CANAL DOCK
CT GREEN JOBS FUNNEL
STORM SANDY FUND
RT 34 DOWNTOWN CROSSING
LOCAL LAW ENFOR BLOCK GRANT
ANIMAL SHELTER
POLICE N.H. REGIONAL PROJECT
POLICE YOUTH ACTIVITIES
POLICE EQUIPMENT FUND
0
38,468
0
131,892
0
0
95,463
141,328
529,157
287,446
0
942,000
0
420,004
0
133,812
0
0
237,500
21,505
248,517
0
0
163
0
0
0
0
0
0
0
0
5,000
150,000
0
0
0
0
0
601,213
25,987,000
306,070
2,508,637
24,850,000
0
4,699
243,200
976
1,521
1,925
195,508
5,535
4,730
2,126,233
2,197,787
0
0
580,860
0
234,015
253,487
299,212
3,316
0
126,584
77,366
1,262
323,919
34,350
0
0
0
890,267
0
200,000
1,631,746
0
345,671
95,462
57,646
0
3,190
33,886
3,088,572
432,072
1,513,351
949,717
7,533
0
0
0
0
0
7,446
88,003
48,200
20,207
48,777
21
{3}
FY 2012-13
Adjusted
Budget as of
5/31/2013
1,925
233,976
5,535
136,622
2,126,233
2,197,787
95,463
141,328
1,110,017
287,446
234,015
1,195,487
299,212
423,320
0
260,396
77,366
1,262
561,419
55,855
248,517
0
0
890,429
0
200,000
1,631,746
0
345,671
95,462
57,646
0
8,190
183,886
3,088,572
432,072
1,513,351
949,717
7,533
601,213
25,987,000
306,070
2,508,637
24,850,000
7,446
92,702
291,400
21,184
50,298
{4}
{5}
FY 2012-13
Revenue
5/31/2013
Projected
Revenue
FY 12-13
0
18,063
0
72,529
0
258,747
0
16,126
559,473
181,909
0
195,189
0
423,320
0
172,044
0
0
277,203
25,075
181,387
0
0
379
0
0
1,526,834
0
124,502
95,462
57,646
0
5,000
38,500
694,711
60
433,305
203,448
7,533
601,213
0
32,000
0
0
5
11,221
238,032
1,419
2,246
{6}
Variance
Projected
v. Budget
{3} - {5}
1,925
0
63,359
170,616
0
5,535
136,622
0
2,126,233
0
2,197,787
0
95,463
0
106,189
35,139
1,053,601
56,416
287,446
0
234,015
0
1,138,264
57,223
200,000
99,212
423,320
0
0
0
260,396
0
77,366
0
1,262
0
277,203
284,216
35,882
19,973
211,728
36,789
0
0
0
0
890,429
0
0
0
200,000
0
1,631,746
0
0
0
186,967
158,704
95,462
0
57,646
0
0
0
8,190
0
183,886
0
3,088,572
0
432,072
0
1,513,351
0
949,717
0
7,533
0
601,213
0
0 25,987,000
306,070
0
2,508,637
0
13,699,671 11,150,329
5
7,441
38,648
54,054
291,400
0
3,476
17,707
10,190
40,108
SPECIAL FUND REVENUE PROJECTION REPORT
FISCAL YEAR 2012-13
MAY
FUND
2218
2220
2223
2224
2225
2227
2228
2230
2231
2281
2501
2503
2504
2505
2508
2511
2512
2517
2518
2519
2521
2523
2528
2531
2532
2534
2544
2545
2546
2547
2548
2568
2579
2580
2925
POLICE FORFEITED PROP FUND
FIRE REGIONAL COMMUNICATIONS
MISC POLICE DEPT STATE GRANTS
MISC POLICE DEPT GRANTS
MISC POLICE DEPT FEDERAL GRANT
JUSTICE ASSISTANCE GRANT PROG
COPS-AMERICAN RECOVERY ACT
COPS TECHNOLOGY
P.A.S.T. GRANT
STATE FORFEITURE FUND
TITLE 1 FEDERAL
ED ADULT BASIC CASH
PRESCHOOL HANDICAPPED
VOC. ED. REVOLVING FUND
MODEL LEARN. DISABILITES
INTEGRATED ARTS CURRICULUM
LEE H.S. PARENTING
MAGNET SCHOOLS ASSISTANCE
STATE BILINGUAL ED
CAREER EXPLORATION
EDUCATION FOOD SERVICES
EXTENDED DAY KINDERGARTEN
PRIVATE FOUNDATION GRTS
EDUCATION CHAPTER I
EDUCATION HEAD START
MEDICAID REIMBURSEMENT
GATES FOUNDATION
FOREIGN LANGUAGE ASSISTANCE
SCHOOL IMPROVEMENTS
EDUCATION JOBS FUND
TEACHER INCENTIVE FUND
ED HEAD START - USDA
84-85 PRIORITY SCHOOLS
JOBS FOR CT YOUTH
COMMUNITY DEVEL BLOCK GRANT
TOTAL
{1}
{2}
FY 2012-13
Budget
FY 2011-12
Carryover
352
476,421
0
0
0
316,498
750,000
0
0
0
36,218
3,010,288
5,980,311
725,440
440,118
2,444,394
2,081,938
5,353,837
290,789
1,380,325
11,083,738
9,890,438
2,376,102
11,587,527
6,864,115
120,867
111,042
104,570
4,108,096
5,868,895
3,185,760
702,776
7,677,463
85,034
3,677,313
160,385,473
55,153
235,806
0
4,627
8,162
422,420
611,664
225,000
271,424
88,729
4,848
0
0
0
0
0
0
0
386,664
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
2,148,549
45,066,565
22
{3}
FY 2012-13
Adjusted
Budget as of
5/31/2013
{4}
{5}
FY 2012-13
Revenue
5/31/2013
Projected
Revenue
FY 12-13
55,505
712,227
0
4,627
8,162
738,918
1,361,664
225,000
271,424
88,729
41,066
3,010,288
5,980,311
725,440
440,118
2,444,394
2,081,938
5,353,837
677,453
1,380,325
11,083,738
9,890,438
2,376,102
11,587,527
6,864,115
120,867
111,042
104,570
4,108,096
5,868,895
3,185,760
702,776
7,677,463
85,034
5,825,862
205,452,037
50,685
416,444
0
0
0
316,764
924,726
0
68,724
32,842
41,066
2,095,989
4,234,648
320,376
288,112
1,636,407
1,278,208
3,257,412
520,236
1,319,826
7,891,466
7,377,554
1,566,217
7,753,630
6,051,548
455
111,042
68,536
2,893,890
3,138,286
4,944
482,801
5,091,324
22,709
3,171,229
83,949,189
{6}
Variance
Projected
v. Budget
{3} - {5}
55,167
338
712,227
0
0
0
0
4,627
0
8,162
738,918
0
1,062,208
299,456
225,000
0
271,424
0
88,729
0
41,066
0
3,010,288
0
5,980,311
0
725,440
0
440,118
0
2,444,394
0
2,081,938
0
5,353,837
0
677,453
0
1,380,325
0
11,083,738
0
9,890,438
0
2,376,102
0
11,587,527
0
6,864,115
0
120,867
0
111,042
0
104,570
0
4,108,096
0
5,868,895
0
3,185,760
0
702,776
0
7,677,463
0
85,034
0
5,030,000
795,862
159,136,005 46,316,032
FY 2013 CAPITAL PROJECT REPORT
AS OF 5-31-13
Dept.
137
138
152
152
152
160
160
160
160
160
160
160
160
160
160
201
201
201
201
201
202
202
202
202
202
501
501
501
502
502
502
502
502
502
502
502
502
702
702
702
702
703
704
704
704
704
704
704
704
721
724
724
724
724
724
724
724
747
747
747
747
747
747
747
900
900
900
900
900
900
900
900
900
900
900
900
900
900
Finance
Technology
Library
Library
Library
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Parks
Police
Police
Police
Police
Police
Fire
Fire
Fire
Fire
Fire
Public Works
Public Works
Public Works
Engineering
Engineering
Engineering
Engineering
Engineering
Engineering
Engineering
Engineering
Engineering
City Plan
City Plan
City Plan
City Plan
Airport
Traffic & Parking
Traffic & Parking
Traffic & Parking
Traffic & Parking
Traffic & Parking
Traffic & Parking
Traffic & Parking
OBIE
Economic Dev.
Economic Dev.
Economic Dev.
Economic Dev.
Economic Dev.
Economic Dev.
Economic Dev.
Livable City
Livable City
Livable City
Livable City
Livable City
Livable City
Livable City
Education
Education
Education
Education
Education
Education
Education
Education
Education
Education
Education
Education
Education
Education
Project Description
Budget
CP 13 SELF INSURANCE REFINANCE
CP 13 COMPUTER HARDWARE INFO
CP 13 IVES CENTENNIAL IMPROVE.
CP 13 LIBRARY IMPROVEMENTS
CP 13 TECHNOLOGY & COMMUNIC.
CP 13 GENERAL PARK IMPROVE.
CP 13 ROLLING STOCK
CP 13 INFRASTRUCTURE IMPR.
CP 13 ATHLETIC FIELD LIGHTING
CP 13 STREET TREES
CP 13 ROOF RENOVATIONS
CP 13 PLAYGROUND INITIATIVE
CP 13 EAST ROCK WORKSHOP
CP 13 EROSION CONTROL CITYWIDE
CP 13 MONUMENT RESTORATION
CP 13 ROLLING STOCK
CP 13 RADIOS
CP 13 BODY ARMOUR
CP 13 COMPUTERS
CP 13 WEAPONS
CP 13 APPARATUS REPL. & REHAB.
CP 13 INFORMATION TECHNOLOGY
CP 13 FIRE FIGHTER PROT, EQUIP
CP 13 RESCUE AND SAFETY EQUIP
CP 13 EMERGENCY MEDICAL EQUIP
CP 13 ROLLING STOCK
CP 13 BRIDGE UPGRADES
CP 13 REFUSE & RECYCLING WASTE
CP 13 COMPLETE STREET CONSTR.
CP 13 SIDEWALK RECONSTRUCTION
CP 13 BRIDGES
CP 13 STREET LIGHTS
CP 13 FACILITY RENOVATIONS
CP 13 GOVERNMENT CENTER
CP 13 GENERAL STORM
CP 13 FLOOD AND EROSION
CP 13 PRE-CAPITAL FEASIBILITY
CP 13 FARMINGTON CANAL GREENWAY
CP 13 ON-CALL PLANNING & ENG.
CP 13 COASTAL AREA IMROVEMENTS
CP 13 ROUTE 34 EAST
CP 13 AIRPORT GENERAL IMPROVE
CP 13 TRAFFIC CONTROL SIGNALS
CP 13 METERS
CP 13 SIGNS AND PAVEMENT MARK.
CP 13 TRANSPORTATION ENHANCE
CP 13 PLANNING & ENGINEERING.
CP 13 COMMUNICATIONS
CP 13 ROLLING STOCK
CP 13 DEMOLITION
CP 13 LAND & BUILDING BANK
CP 13 COMMERCIAL IND. SITE DEV
CP 13 FACADES
CP 13 NEIGHBORHOOD COMM.
CP 13 PRE-CAPITAL FEASIBILITY
CP 13 WEST ROCK REDEVELOPMENT
CP 13 100 COLLEGE\TIGER GRANT
CP 13 ACQUISITION
CP 13 RESIDENTIAL REHABILITATI
CP 12 PROPERTY MANAGEMENT
CP 13 NEIGHBORHOOD PUB. IMPR.
CP 13 HOUSING ASSISTANCE
CP 13 DOWNPAYMENT CLOSING COS
CP 13 ENERGY EFFICIENCY REHAB
CP 13 GENERAL IMRPOVEMENTS
CP 13 LIFE SAFETY IMPROVEMENTS
CP 13 HVAC SYSTEMS
CP 13 ENERGY PERFORMANCE ENH.
CP 13 COMPUTERS
CP 13 CUSTODIAL EQUIPMENT
CP 13 INTERIOR & EXTERIOR PAIN
CP 13 ASBESTOS\ENVIRONMENT
CP 13 ROLLING STOCK
CP 13 SCHOOL ACCREDITATION
CP 13 FLOOR TILE AND ACCESSORI
CP 13 CAFETERIA PROGRAM & EQ.
CP 13 PROFESSIONAL SERVICES
CP 13 PAVING FENCING & SITE
Total:
23
6,000,000
900,000
808,549
200,000
200,000
320,000
265,000
100,000
375,000
510,000
100,000
200,000
50,000
300,000
60,000
300,000
200,000
100,000
240,000
50,000
1,100,000
90,000
300,000
70,000
150,000
700,000
150,000
50,000
500,000
1,400,000
1,600,000
225,000
1,100,000
150,000
150,000
125,000
200,000
230,000
100,000
75,000
100,000
483,993
125,000
300,000
125,000
130,000
150,000
50,000
175,000
250,000
500,000
750,000
280,000
420,000
25,000
3,000,000
1,500,000
460,000
390,000
100,000
50,000
200,000
500,000
550,000
1,300,000
400,000
675,000
400,000
900,000
150,000
200,000
150,000
100,000
50,000
75,000
30,000
60,000
40,000
34,887,542
Expenditures &
Encumbrances
6,000,000
879,094
110,328
167,644
178,109
270,000
255,994
99,813
352,409
496,295
81,516
159,565
50,000
134,043
4,633
286,681
166,171
51,098
239,486
42,567
1,100,000
26,449
70,000
4,695
481,491
7,074
408,738
1,400,000
1,053,381
224,775
954,847
150,000
143,017
120,520
161,800
483,993
125,000
5,075
116,122
53,007
41,878
171,893
244,526
332,994
441,424
111,561
72,095
228,620
390,000
95,108
19,158
0
36,421
1,125,475
398,590
489,245
149,756
761,123
149,756
41,829
127,866
0
0
45,447
3,771
15,079
15,970
22,625,010
Projected
6,000,000
900,000
808,549
200,000
200,000
320,000
265,000
100,000
375,000
510,000
100,000
200,000
50,000
300,000
60,000
300,000
200,000
100,000
240,000
50,000
1,100,000
90,000
300,000
70,000
150,000
700,000
150,000
50,000
500,000
1,400,000
1,600,000
225,000
1,100,000
150,000
150,000
125,000
200,000
230,000
100,000
75,000
100,000
483,993
125,000
300,000
125,000
130,000
150,000
50,000
175,000
250,000
500,000
750,000
280,000
420,000
25,000
3,000,000
1,500,000
460,000
390,000
100,000
50,000
200,000
500,000
550,000
1,300,000
400,000
675,000
400,000
900,000
150,000
200,000
150,000
100,000
50,000
75,000
30,000
60,000
40,000
34,887,542
Projected
Balance
0
SUMMARY OF PERSONNEL
FISCAL YEAR 2012 - 2013
MAY
FULL TIME
EFFECTIVE
DATE
FUND
DEPT
POS #.
JOB TITLE
LAST NAME
FIRST NAME
5/12/2013
GF
Fire
1700
Fire Fighter 1ST Grade
Balkun
Robert
SALARY / HOURLY
RATE
$
67,283.00
Upgrade Firefighter 1ST grade
5/12/2013
GF
Fire
2120
Fire Fighter 1ST Grade
Connors
Thomas
$
67,283.00
Upgrade Firefighter 1ST grade
5/12/2013
GF
Fire
2070
Fire Fighter 1ST Grade
Corrone
Thomas
$
67,283.00
Upgrade Firefighter 1ST grade
5/12/2013
GF
Fire
1990
Fire Fighter 1ST Grade
Doherty
Ryan
$
67,283.00
Upgrade Firefighter 1ST grade
5/12/2013
GF
Fire
2380
Fire Fighter 1ST Grade
Filardo
Frank
$
67,283.00
Upgrade Firefighter 1ST grade
5/12/2013
GF
Fire
2290
Fire Fighter 1ST Grade
Oliver
Theodore
$
67,283.00
Upgrade Firefighter 1ST grade
5/12/2013
GF
Police
570
Police Officer
Alvardo
Christopher
$
64,377.00
Contractual upgrade
5/12/2013
5/14/2013
5/27/2013
5/30/2013
5/30/2013
GF
GF
GF
GF
GF
Police
Traffic and Parking
Library
Finance
Mayors Office
9975
13008
2000
100
3000
Police Officer
Manager-Operations
Supervising Librarian
Acting Controller
Budget Director
Mawirzynski
Hutchings
Jarry
O'Neil
Clerkin
Ryan
Ethan
Marie
Michael
Joe
$
$
$
$
$
64,377.00
50,594.00
50,594.00
111,723.00
111,723.00
Contractual upgrade
Moves from Temp-Pending Test
Moves from Librarian II
Mayoral Appointment
Mayoral Appointment
FUND
DEPT
POS #.
JOB TITLE
LAST NAME
FIRST NAME
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
Finance
Finance
Finance
Finance
Finance
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Engineering
Finance
Student Intern
Student Intern
Student Intern
Student Intern
Student Intern
Program Aide
Program Aide
Program Aide
Program Aide
Program Aide
Program Aide
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Student Intern
Student Intern
Benton-Brooks
Hamm
Popolizo
Spears
Varca
Empey
Lehre
Joshua
Santini
Sullivan
Walker
Anderson
Ayala
Bartoah
Beall
Chambers
Gibbs
Haidara
Jackson-Hanjra
McDaniel
McNamara
Middleton
Rivers
Strong
Lewis
Flanagan
Daling
Kenneth
Zakiya
Nicole
Darrell
Saviero
Kyle
Misha
Lublin
Michael
Anne
Kyle
Gary
William
Andrew
Mattie
David
Patricia
Facinet
Martha
Jayvona
Tyler
Kendall
Dominic
Laron
Miquel
Christopher
Cody
COMMENT
PART TIME / SEASONAL
EFFECTIVE
DATE
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/3/2013
5/13/2013
5/13/2013
SALARY / HOURLY
RATE
$
10.75
$
10.75
$
10.00
$
10.75
$
10.75
$
8.75
$
13.00
$
8.75
$
8.75
$
8.75
$
8.75
$
8.75
$
8.75
$
8.75
$
8.75
$
10.00
$
8.75
$
8.75
$
10.00
$
8.75
$
10.00
$
8.75
$
10.00
$
10.00
$
8.75
$
10.00
$
12.00
5/13/2013
SF
Health
Tuberculosis Control Specialist
Gamble
Jeanine
5/17/2013
GF
Mayors Office
Student Intern
Kearson
Liliana
5/17/2013
GF
Human Resources
Student Intern
Garcia Jr.
Teodoro
$
15.00
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/17/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
5/24/2013
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Britt
Campbell
Cannon
Cogdell
Colvin
Davis
Gaines
Green
Jones
Joyner
Miller
Murphy, Sr
Pritchett
Rivera
Robertson
Samuel
Spruill
Walker
Wallace
Foster
Hampton
Havick
Kerschner
Langston
Levine-Ritterman
Mewborn
Moore
Nieves
Perez
Pina
Reynolds
Rogers, Jr
Sibley
Teague
Charles
Melvin
William
Anthony
Tony
Willie
James
Sandra
Lydell
Deon
Timothy
Henry
Earnest
Samuel
Warren
Ceails
Kenneth
Jason
Raymond
Rahim
Kyle
Victoria
Zachary
Gregory
Maya
Nikia
Bria
Christina
Paola
Arianna
Emma
Michael
Brian
Steven
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.00
9.50
8.75
8.75
8.75
8.75
8.75
9.00
9.00
13.00
8.75
9.50
8.75
8.75
8.75
12.00
5/28/2013
GF
Traffic and Parking
School Safety Guard
Suggs
Charles
$
11.13
5/28/2013
5/28/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
5/31/2013
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
GF
Engineering
Health
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Parks and Rec's
Student Intern
Student Intern
Seasonal Caretaker
Seasonal Caretaker
Seasonal Caretaker
Seasonal Caretaker
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Program Specialist
Decola
DeMatteo
Agnew Jr
DeGioia
Jimenez
Rosemond
Bernardo
Bradshaw
Dubose
Guarino
Hinestroza
Jennings
Kane
Polycarpe
Smith-Ocran
Wallace
Walters
Fredlaw
Joiner
Hernandez
Bradley
Patterson
Zachary
Deanna
Harold
William
Tomas
Maurice
Michele
Jared
Demetria
Jennifer
Diana
Sadiki
Jamie
Patricia
Moni
Kelsey
Cardell
Brandon
Traejhon
Tatiana
Lareasha
Brandon
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
12.00
12.00
9.00
9.50
10.00
9.00
13.00
8.75
8.75
20.00
8.75
8.75
20.00
8.75
8.75
9.50
8.75
8.75
8.75
8.75
8.75
8.75
24
$
COMMENT
32.19
Unpaid
Fire Fighter Test Proctor
SUMMARY OF TRAVEL
FISCAL YEAR 2012-13
MAY
Funding
Source
$
Person
Traveling
GENERAL FUND
No travel reporteds
SPECIAL FUND
No Tra vel reported
25
Destination
Purpose
SUMMARY OF BUDGET TRANSFERS
FISCAL YEAR 2012-13
MAY
Department
Transfer No.
Amount
Line: From
Line -Desc
no Transfers
26
Line: To
Line Desc
Reason
COMMENT
SUMMARY OF GRANTS ACCEPTED BY THE CITY
FISCAL YEAR 2012 - 2013
MAY
Name of Grant/Source
Value
Recipient
Department
Project Longevity / State of Connecticut
Office of Policy and Management
30,465
Police
Services
27
Date
Signed
Description of Grant
5/23/2013 Project Longevity is a comprehensive
strategy to reduce violent crime in New
Haven by 50% with a specific focus on
homicides and shootings. It is a
"ceasefire strategy" based on the
premise that a small number of hardened
criminals commit a highly
disproportionate number of serious violent
crimes. It has three central parts: 1) the
community serves as the moral voice; 2)
access to social support services for
those who may be a danger to
themselves or others; 3) swift and serious
legal consequences for violent acts. The
engagement includes the concept of
collective accountability as demonstrated
in "call-in" meetings with the targeted
offenders who meet face to face with
community stakeholders, law
enforcement, and social service providers.
SELF INSURANCE FUNDS
PROJECTION
FISCAL YEAR 2012-13
MAY
1) MEDICAL BENEFITS
FY 11-12
EXPENDITURES
REVENUE
PREVIOUS YEAR FUND BALANCE
90,521,771
89,312,023
(1,209,748)
29,644
FUND BALANCE - PRE-AUDIT FY 11-12 & FY 12-13 PROJ
(1,180,104)
2) WORKERS COMP
FY 11-12
FY 12-13 - Proj
+/-
877,418
FY 12-13 - Proj
+/-
EXPENDITURES
9,760,624
9,263,059
497,565
9,760,624
-
9,295,000
31,941
-
(465,624)
FUND BALANCE - PRE-AUDIT FY 11-12 & FY 12-13 PROJ
3) SELF INSURANCE
EXPENDITURES
FY 11-12 & 12-13 FINAL AUDITORS ADJUSTMENT
REVENUE (FY13 INCLUDES $6M FINANCING + $2.4 GF)
Comment
89,997,058
(524,713)
-1%
92,054,580 2,742,557
3%
2,057,522 projected surplus - accrues to GF and not to fund
(1,180,104)
REVENUE
PREVIOUS YEAR FUND BALANCE
%
-
31,941
FY 11-12
FY 12-13 - Proj
+/-
%
Comment
-5%
-5% GF $7.9m
%
5,571,430
(2,815,833)
5,740,012
-
168,582
-
3%
2,300,000
8,400,000
6,100,000
265%
(455,597)
2,659,988
PREVIOUS YEARS FUND BALANCE
(17,337,340)
(17,792,937)
FY 12 FUND BALANCE
(17,792,937)
(15,132,949)
FY 12 CASE RESERVES FOR POTENTIAL FUTURE LOSSES
8,358,217
8,358,217
CUMULATIVE OPERATING RESULTS - NET CASE RESERVE
(9,434,720)
(6,774,732)
4) FOOD SERVICE
FY 11-12
EXPENDITURES
REVENUE
12,017,976
12,025,656
7,680
12,405,095
12,405,095
-
PREVIOUS YEAR FUND BALANCE
(1,866,532)
(1,858,853)
FUND BALANCE - PRE-AUDIT FY 11-12 & FY 12-13 PROJ
(1,858,853)
(1,858,853)
FY 12-13
28
+/-
387,119
379,439
%
3%
3%
MOODY'S
INVESTORS SERVICE
Rating Update:
Approximately $510 million in debt affected
NEW HAVEN (CITY OF) CT
Cities (including Towns, Villages and Townships)
CT
Opinion
NEW YORK, June 17, 2013 --Moody's Investors Service has downgraded to A2 from Ai the rating on the city of
New Haven's (CT) outstanding general obligation bonds, affecting approximately $510 million of outstanding debt.
The outlook remains negative. The city's outstanding general obligation bonds are secured by the city's unlimited
tax pledge.
SUMMARY RATINGS RATIONALE
The downgrade reflects the city's narrowed financial position resulting from a sizeable operating deficit in fiscal
2012, as well as another expected deficit in fiscal 2013. The A2 rating also incorporates the city's sizeable tax
base with below average socioeconomic indices and an strong institutional presence.
The negative outlook reflects the possibility of further credit weakening should the city be unable to restore fiscal
stability in the near term and begin to augment its narrow reserve levels. The outlook also incorporates the city's
high debt burden and sizeable Internal Service Fund deficit.
STRENGTHS
-- Tax base anchored by stable health and higher education sector
CHALLENGES
Narrow General Fund balance
-- Anticipated General Fund deficit in fiscal 2013
-- Sizable Internal Service Fund (ISF) deficit
-- High fixed cost structure, including required contributions for pension and OPEB
DETAILED CREDIT DISCUSSION
STRAINED FINANCIAL POSITION EXPECTED TO NARROW FURTHER
Moody's anticipates that the
will remain challenged to restore fiscal stability in the near term, due to its
by a sizeable operating deficit in fiscal 2012, as well as a
deficit for
narrowed reserve levels
Internal Service Fund.
fiscal 2013. In addition, a sizeable deficit remains in the
After several years of positive
the city ended fiscal 2012 {June
with an $8 million General Fund
deficit. The primary drivers of
from union concessions which were not fully
overtime. In
the
revenues were
million
realized as well as
under
At year
Fund balance declined to
million, or a narrow 1
of revenues.
n""'''!I'n~'1i General Fund balance was
or a very slim 0.8% of revenues, which is a
decline
million, or 2% of revenues.
1 levels of
fiscal 2013 budget included a 2.4% increase in
of reserves. As the fiscal year comes to an
,:m,'rnnr"~tlr.n
29
balanced with additional levy growth and no
is
a
to $3 million General
Fund deficit due to a reduction in state and local PILOT payments, as well as unbudgeted expenses for cleanup
costs related to Hurricane Sandy and severe winter storms during the year. The city was able to reduce the
projected deficit by approximately $3 million due to a one-time payment from Yale University (revenue bonds rated
Aaalstable outlook) for the purchase of two previously city-owned streets. Following the projected 2013 deficit, the
city's ability to restore structural balance and augment is severely narrow reserve levels will be critical factors in
future reviews.
The fiscal 2014 budget includes a 2.3% increase in spending, and will be balanced with a 4.9% tax rate increase
and no use of reserves. In addition, the city has increased its budget for police and fire overtime, two items that
have represented significant budgetary pressures in prior years.
The city's accumulated Internal Service Fund deficit increased to $18.9 million at the end of fiscal 2012,
representing the second consecutive year of deficit growth. The fund includes a self-insurance reserve (general
liability insurance), a medical insurance reserve, and a worker's compensation reserve. The majority of the 2012
accumulated deficit is attributable to the city's self-insurance reserve ($17.8 million), which includes settlement
estimates for outstanding litigation. In addition, the medical self insurance fund has a $1.2 million deficit, and the
worker's compensation fund maintains a narrow positive net asset position of $35,000. The city currently plans to
cure the deficit by fiscal 2016 through the appropriation of $6 million in bond proceeds during fiscal 2013, and $2
million annually thereafter through 2016. Further, the city implemented procedures intended to mitigate work force
grievances, thereby reducing expenses in the fund and allowing for a gradual reduction of the accumulated deficit.
In fiscal 2007 the city purchased additional personal liability insurance to offset the exposure from unanticipated
claims.
LARGE UNIVERSITY & HEALTH CARE PRESENCE; RECOVERY EXPECTED TO BE SLOW
The city's economy will continue to benefit from Yale University's large academic and medical presence and its
commitment to investing significant capital funds for new construction and area improvements, much of which is
not included in the city's $6.8 billion fiscal 2012 equalized net grand list (ENGL). While Yale and the Yale-New
Haven Hospital (revenue bonds rated Aa3/stable outlook) have mitigated the impact of the recession, the
downturn in New Haven has nonetheless been deep and unemployment remains high, at 11.3% (as of April 2013),
as compared to the state (7.8%) and the nation (7.1%).
Taxable grand list growth has remained relatively stable, increasing by 16.2% for its most recent valuation in fiscal
2013 from the prior year. Recently, the city has benefited from development at the Yale-New Haven Smilow
Cancer Center, a fully taxable $80 million office development and $50 million parking garage and office center that
is in close proximity to the hospital site. Further, the city has also benefited from the private and fully taxable 360
State Street project (a mixed-use development) which is currently in year 3 of a 5-year assessment phase-in.
Most recently, the city has begun a large-scale redevelopment project in the downtown crossing area which will
result in the elimination of a portion of Route 34, in order to make way for several new developments, including a
new office tower.
In part reflective of the significant student population, with combined total enrollment exceeding 30,000, the city's
per capita income lags that for the state and nation, at 56% and 75% of state and national levels, respectively.
Nearly 25% of the city's population is classified as below poverty. When considering only the taxable ENGL, the
equalized value per capita is low at $52,314. However, when including the nearly $4 billion in tax-exempt property,
this ratio improves but still remains below-average for Connecticut at $83,335.
DEBT POSITION WILL REMAIN HEAVILY LEVERAGED
debt position to remain
Despite significant state assistance for planned building projects, we expect the
heavily leveraged for the foreseeable future. Adjusted debt burden, at 7.7% of
is well above the median
level for similarly-sized cities. Debt service in fiscal 2012 represented an elevated 13% of expenditures. The city's
current projections show debt service peaking in 2015 and remaining around current levels as a percent of
expenditures. The
(FY13-FY17) $363.4 million capital
includes $30 million of new money
borrowing in fiscal
the
debt is fixed rate and the city not party to any derivative agreements.
defined benefit
The city has a high
burden, based on unfunded liabilities for two
million in fiscal
retirement
The
combined annual
contribution (ARC) for the
was
2012, or
of
Fund
combined
net pension liability, under "n",'V'1""",
methodology for adjusting
pension data, is
million, or an elevated 1.72 times General Fund
revenues. Moody's uses the adjusted net pension liability to improve comparability of reported pension liabilities.
The adjustments are not intended to replace the city's reported liability information, but to improve comparability
30
with other rated entities.
The city currently funds its other post-employment benefits (OPEB) obligation on a pay-as-you-go basis. The payas-you-go cost for fiscal 2012 was $22.5 million, representing 4.4% of expenditures. The total Unfunded
Actuarially Accrued Liability (UML) for OPEB is $444 million, as of June 30, 2011. Positively, in conjunction with
the recently settled labor contract, the city's police employees will now contribute 1.25% of their base pay towards
the unfunded OPEB liability.
WHAT COULD MAKE THE RATING GO UP (REMOVAL OF NEGATIVE OUTLOOK)
-- Return to structurally balanced operations, with increased reserve levels
-- Improvement of the city's financial position, including its Internal Service Fund
-- Strengthening of tax base and demographic profile to levels more consistent with higher rating categories
WHAT COULD MAKE THE RATING GO DOWN
-- Protracted structural budget imbalance
-- Further reduction of General Fund balance
-- Deepening of Internal Service Fund deficit
-- Deterioration of the city's tax base and demographic profile
KEY STATISTICS:
2010 Population: 129,779 (5% increase from 2000)
2012 Equalized Net Grand List (ENGL): $6.8 billion
2012 Equalized Value Per Capita: $53,314
2010 Per Capita Income: $21,789 (60% of CT, 80% of U.S.)
2010 Median Family Income: $47,432 (56% of CT, 75% of U.S.)
Fiscal 2012 Total General Fund Balance: $8.8 million (1.7% of revenues)
Fiscal 2012 Unassigned General Fund Balance: $3.8 million (0.8% of revenues)
Adjusted Debt Burden: 7.7%
Payout of Principal in 10 Years: 81%
Post-sale Long-Term Parity Debt Outstanding: $510 million
The principal methodology used in this rating was General Obligation Bonds Issued by US Local Governments
published in April 2013. Please see the Credit Policy page on www.moodys.comforacopy of this methodology.
REGULATORY DISCLOSURES
For
issued on a program, series or
of debt, this announcement
certain regulatory
disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class
of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance
with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain
regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating
action for securities that derive their credit ratings from the support
credit rating. For provisional
this announcement
certain
disclosures in relation to the provisional rating
and in
relation to a definitive
that
to the final issuance of the debt, in each case where
the transaction structure
terms
not
prior to the assignment of the definitive
that would have affected the rating. For further information please see the ratings tab on the
the
issuer on www.moodys.com.
31
Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating
outlook or rating review,
Please see www.moodys.com for any updates on changes to the lead rating analyst and to the Moody's legal
entity that has issued the rating.
Please see the ratings tab on the issuer/entity page on www.moodys.com for additional regulatory disclosures for
each credit rating.
Analysts
Thomas Compton
Lead Analyst
Public Finance Group
Moody's Investors Service
Shannon McCue
Backup Analyst
Public Finance Group
Moody's Investors Service
Geordie Thompson
Additional Contact
Public Finance Group
Moody's Investors Service
Contacts
Journalists: (212) 553-0376
Research Clients: (212) 553-1653
Moody's Investors Service, Inc.
250 Greenwich Street
New York, NY 10007
USA
MOODY'S
INVESTORS SERViCE
© 2013 Moody's Investors Service, Inc. and/or its licensors and affiliates (collectively, "MOODY'S"). All rights
reserved.
CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. ("MIS") AND ITS AFFILIATES ARE
MOODY'S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT
COMMITMENTS, OR DEBT OR DEBT·LlKE SECURITIES, AND CREDIT RATINGS AND RESEARCH
PUBLICATIONS PUBLISHED BY MOODY'S ("MOODY'S PUBLICATIONS") MAY INCLUDE MOODY'S
CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS,
OR DEBT OR DEBT·LlKE SECURITIES. MOODY'S DEFINES CREDIT RISK AS THE RISK THAT AN
ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY
ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY
OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE
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NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. CREDIT RATINGS AND MOODY'S
PUBLICATIONS DO NOT CONSTITUTE OR PROVIDE INVESTMENT OR FINANCIAL ADVICE, AND
32
CREDIT RATINGS AND MOODY'S PUBLICATIONS ARE NOT AND DO NOT PROVIDE
RECOMMENDATIONS TO PURCHASE, SELl, OR HOLD PARTICULAR SECURITIES. NEITHER CREDIT
RATINGS NOR MOODY'S PUBLICATIONS COMMENT ON THE SUITABILITY OF AN INVESTMENT FOR
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quality and from sources Moody's considers to be reliable, including, when appropriate, independent third-party
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information received in the rating process. Under no circumstances shall MOODY'S have any liability to any
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information contained herein must make its own study and evaluation of each security it may consider purchasing,
holding or selling. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, TIMELINESS,
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MANNER WHATSOEVER.
MIS, a wholly-owned credit rating agency subsidiary of Moody's Corporation ("MCO"), hereby discloses that most
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preferred stock rated by MIS
prior to assignment of any rating, agreed to pay to MIS for appraisal and rating
it fees
from
,500 to approximately $2,500,000. MCa and MIS also maintain policies
services rendered
and
to
the
of MIS's ratings and rating processes. Information regarding certain
",ttilioti,"\nc that may exist between
of MCO and rated
and between entities who hold ratings from
MIS and have also
to the SEC an
interest in Mea of more than 5%, is posted annually
at
"Shareholder Relations
Governance
Director and
Shareholder Affllliati{Jn
putllic81tion into Australia of this document is
flJlrIlYlH <:: Investors Service
94 105 136972
accessing the document as a representative of, a "wholesale client" and that neither you nor the entity you
represent will directly or indirectly disseminate this document or its contents to "retail clients" within the meaning of
section 761 G of the Corporations Act 2001. MOODY'S credit rating is an opinion as to the creditworthiness of a
debt obligation of the issuer, not on the equity securities of the issuer or any form of security that is available to
retail clients. It would be dangerous for retail clients to make any investment decision based on MOODY'S credit
rating. If in doubt you should contact your financial or other professional adviser.
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