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June finance report shows $1.6 million general-fund shortfall and $3.9 million medical-fund pressure
Summary
City staff reported a June projection that showed about a $1.6 million deficit in the general fund and roughly $3.9 million in the health fund; staff flagged higher claim activity, strong investment income and building-permit revenue as offsetting factors and said year-end closing will clarify final transfers.
NEW HAVEN — City budget staff told the finance committee the June financial report projected a June general fund deficit of roughly $1.6 million and an estimated $3.9 million shortfall in the municipal medical (health) fund, with workers' compensation pressure of about $427,000, producing an aggregate projection near $6 million when combined with other funds. Budget Director Shannon McHugh presented the June figures and said the…
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