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Hartford treasurer presents $582,913 general‑fund budget; pension COLA, staffing and investment returns draw council questions
Summary
City Treasurer Carmen Sierra outlined a $582,913 recommended general‑fund budget for FY2025–26, described investment returns and outreach initiatives, and answered council questions on a vacant senior project manager post, pension cost‑of‑living adjustments and vendor electronic payments.
City Treasurer Carmen Sierra presented the Office of the Treasurer’s recommended fiscal 2025–26 general‑fund budget to the Hartford City Council and outlined investment results, staffing needs and outreach programs.
Sierra said the office generated roughly $7.6 million in revenue year to date and reported $264 million in short‑term cash investments as of March 31, 2025. She recommended a general‑fund budget of $582,913, up from the adopted FY2024–25 budget of $549,250, an increase of $33,663 (6.1 percent) that she attributed to contract salary adjustments and a reclassification of an administrative clerk to principal analyst.
The presentation described the treasurer’s responsibilities — investing city pension and trust assets, managing cash and banking relationships and administering deferred‑compensation plans — and listed recent actions and partnerships. Sierra said the office manages several deferred‑compensation plans (identified in the presentation as…
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