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Bridgeport proposes largely stable FY2027 budget, citing health insurance increases, revaluation and debt refinancing
Summary
City officials told the budget committee the FY2027 general fund is broadly stable after a revaluation that allows a lower mill rate; major cost pressures include a 12'14% rise in health insurance, reduced federal ARPA support and proposed debt restructuring that officials say will save future budgets about $10M annually.
Bridgeport City's budget team presented the mayor's proposed fiscal year 2027 operating and general fund budget to the budget committee, saying the plan holds the overall tax burden steady despite large cost pressures.
Ken, the city's OPM/finance presenter, told the committee the city faces ‘‘uncontrollable''cost drivers’’ including a national 12'14% rise in health insurance and higher utility and inflationary costs, and that federal American Rescue Plan (ARPA) funds that previously supported one-time items are phasing out, reducing revenue by roughly $10 million next year.
The administration also described a one-time accounting change: the school nutrition program, historically shown in the general fund at about $25 million, has been reclassified into a grant fund (Fund 90). Ken said that shift makes the headline general fund total…
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