The Hamden Democratic Town Committee Executive Board, on behalf of the Committee, requests that the Legislative Council resolve Hamden’s financial budgetary issues. It is our position that the current dire financial situation of the Town of Hamden must be addressed immediately, and that all means, including a budget revision done by the Legislative Council, as well as use of expert citizen volunteers and professionals, is needed to create solutions for our financial problems. While this may require borrowing money in the next year or two, borrowing must be minimized, intentional and transparent.
We are asking the Legislative Council to create a FY 2021 Budget that will address the ~$11-17 million current financial shortfall of the FY 2020 Budget while addressing the expected revenue shortfall in FY2021 due to the national economic situation. We are also asking that the Legislative Council and the mayor create a 5-10 year, long-term financial plan that will address a rigorous process to create financial stability for Hamden. This needs to be done immediately as it may require outside professional expertise either from the State or private sector.
We recognize this is no small feat. However, the Legislative Council members have a responsibility to Hamden residents to produce a budget with realistic revenue projections and with realistic expected expenses, make changes as needed and produce a realistic budget for 2021. The Legislative Council needs to address the debt that Hamden has accrued and produce a plan of action to address this debt. Time is of essence.
We are supportive of the Legislative Council members, who are volunteers, while at the same time, we are asking that they use all available citizen and professional expertise to help them create a fiscally responsible future for Hamden.