New London finance director says city finances broadly on track; ARPA nearly spent, payroll position open

Judy, New London finance director, told the finance committee that the city is roughly 25% through the fiscal year and that revenues and expenditures are “about the same percentage wise,” with several line items front-loaded early in the year.

The report, delivered during the finance director’s monthly update, described spending and revenue timing that officials said leaves the city broadly on track while several projects and reporting deadlines remain. Judy said the city has spent $699,409 in American Rescue Plan Act (ARPA) funds on a downtown project and expects the remaining $42,819 of ARPA money to be used on the Oshkosh Street project.

Judy said, “We are 25% of our way through the year,” and explained that some budget lines are above that percentage because of annual or quarterly payments: insurance was at about…