Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Finance committee reads and files November and December financial reports; staff projects modest shortfall
Summary
The Finance Committee voted to read and file the city’s November and December 2024 budgetary and financial reports (LM2025-00005 and LM2025-00042). Presenters showed revenue and expenditure projections and flagged school budget variance, overtime trends and vacancy savings.
The New Haven Finance Committee on Feb. 10 voted to read and file the city’s budgetary and financial reports for November and December 2024 (LM2025-00005 and LM2025-00042), as required by Article 8, Section 5 of the City Charter.
Why it matters: City staff presented mid-year projections and identified several variances that could affect the fiscal year outcome, including a projected shortfall, a Department of Education budget overage and trends in salary and overtime spending.
What staff presented: Shannon McHugh summarized the December figures and said the city’s revenue and expenditure projections showed a deficit at this point in the year. The…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
