Despite Losing Millions in State Aid, Hamden To End 2018 In Black

HAMDEN, CT - A review of 2018 Hamden finances shows that the town has balanced its 2018 budget and expects to end the year without a deficit, according to a report that Mayor Curt Leng has prepared for all department heads and staff.

Patch has obtained a copy of the year-end report prepared by Leng which said the town has met its obligations "in unquestionably a year of challenges and unknown variables, largely caused by the state of Connecticut's mid-year, unexpected multi-million dollar cut of annually received state revenue."

In his letter, Leng said the town was able to reduce spending in fiscal year 2018 from $226 million to $219 million. "This helped us to significantly reduce our gap in the lower than expected revenues," Leng said.

Leng said he and other town leaders were cognizant of the fact that it needed to reduce spending because it wanted to "preserve and protect the town's fund balance and risk our municipal credit rating."

Leng said the town was able to achieve its financial goals, by, among other things:

-- initiating spending and hiring freezes saving approximately $1.5 million;

-- implementing a policy of mayoral sign off on all capital expenditures exceeding $7,500;

-- streamlining the system under which worker's compensation expenses are paid for town employees;

-- working in collaboration with the Board of Education to find cost efficiencies;

-- cutting back on the town's capital budget projects by more than $2 million -- Leng referred to that as having to make "difficult decisions, but actions that were demanded to protect the town's financial position";

-- receiving an increased voluntary contribution, with a commitment of additional funding in future years, from Quinninpiac University.

On the capital cuts, the mayor said it was a case of “sharpening the pencil,” adding that he’s hopeful necessary bridge and engineering work will be funded by grant money.

Leng said the "process was long for all, it requires significant work, but in the end it has resulted in a balanced budget, which protects Hamden's financial standing and keeps us on the positive path forward strengthening our overall financial position."