The City of Hartford’s General Fund is projected to experience increasing annual budget deficits. The following chart is a reproduction of data on page 4-3 of the Five Year Forecast Section of the Adopted Budget for the fiscal year ending in June of 2015, which is the fiscal year that began last month (July 2014).
The chart shows that the adopted budget balances expenditure and revenue in the current year, Fiscal Year 2014-2015. Other sections of the Adopted Budget go into more detail about how the budget was balanced. The complete document can be found on the City of Hartford website.
The above chart also shows a projected budget deficit for all future years. The gap jumps up to $40 million for the next fiscal year, and to about $45 million in the year after that, before stabilizing at about $55 million in each of the final two years shown.
As a point of reference, Mayor Segarra’s Budget Message letter, which is included as part of the Adopted Budget, noted that the administration and Court of Common Council closed an estimated $44 million deficit in the current fiscal year.
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