“Money We Throw Out The Window”

City Budget, City Council59 Comments

City Hall for sale, City Hall Annex also for sale, delaying pension payments, a rush to borrow upwards of $110 million to meet operational expenses at the end of the budget year. And maybe use the borrowed dough to plug a hole in an election-year budget to avoid a tax increase? Does this sound like a city on a strong financial footing?

The city is relying more and more on borrowing to meet payroll and other expenses. One half million here, another one half million there in interest and fees for this borrowing. CT Post reporter Keila Torres was at the City Council meeting Monday night to report this and an exchange between City Councilman Bob Walsh and Mayor Bill Finch:

The city has had to borrow the funds for the last five years because the fund balance stands at only $10 million and cannot provide relief during low cash flow periods, added City Council member Robert Curwen. “What is the cost associated with this borrowing,” Walsh asked.

“Too much,” Finch said. “It’s money we throw out the window.”

Curwen is co-chair of the council’s Budgets and Appropriations Committee. He is also on the city payroll, appointed by Finch. What compelling reason does Curwen have to honestly assess the election-year budget (beginning July 1) Finch presents next month? The council, as legislative body, is designed to be a check on the chief executive. Knock knock, anyone home? This is the problem you have with council members on the city payroll. Link to Keila’s story:

www.ctpost.com/local/article/Bridgeport-borrows-again-to-meet-operating-1048579.php

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59 comments

  1. *** When it’s not your money & you spend & borrow like drunken sailors on liberty, it’s just like throwing money out the window, no? Seems like the old ship Bpt is headed inland in stormy night weather & fog without a map or compass and getting closer & closer to the rocks that could sink her! *** SINK OR SWIM ***

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    1. Mojo // Mar 8, 2011 at 11:36 pm

      to your posting

      Mojo,
      Can you believe there are City governments in this country, even in New England , who know it’s not their money to throw around, it’s not acceptable for taxpayers to subsidize spending and borrowing like drunken sailors …
      The boys at 999 are going to bail when the final dollar is ripped from the heart of the people of Bridgeport …

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  2. If we have had to do this for the past five years isn’t this a huge part of our deficit? Having Curwen as co-chair on the Finance Committee is like giving a child a gun to play with. Curwen could not count to 21 if he were standing at a urinal.

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    1. Paging independent soul:

      Governor Malloy is grateful for Bridgeport and the role it played in his victory. Other cities/towns in Connecticut are in worse shape than Bridgeport. I’d be surprised if your dream came true.

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  4. Paging Keila Torres:

    Expose these con artists destroying our city!!!

    Call up Gomes, he has to have the ace in the hole from CitiStat. Bet he got the goods.

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  5. Local Eyes reminds all readers that America has been running a chronic/structural deficit for 45 years. Singling out Bridgeport is the stuff that narrow-minded political neophytes are drawn to.

    Reality is non-negotiable and Bridgeport is no exception.

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          1. Jimfox:

            C’mon, start making sense.

            We’ll wait.

            We all make mistakes–what’s your excuse?

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          2. Jimfox:

            Your own chosen OIB handle is a permanent mistake suggesting your never-ending use of drugs.

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    2. Local Eyes // Mar 9, 2011 at 6:09 am

      to your posting
      Local Eyes, what in the world does it have to do with America? Cities have recovered if their leadership has had the vision and political will to make change to benefit the fabric of the whole city.
      Local Eyes,
      If you don’t see the reasons why Bridgeport would not have added burdens built into her financial grief and therefore be singled out for this grief along with her structural deficit as well, then you are a long way off from my thinking. I believe you are so wrong in your viewpoint that I will need to stop responding to you. I want ours to be an amicable OIB arena of discussion and thought.

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  6. Charter Revision Commission … Board of Finance … specific financial qualifications required … must have no immediate family on TC nor employees of the City, BOE. We are not learning from the past … we are continuing to repeat the mistakes over and over again. Make this an election question over and over again.

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  7. What can you expect from the budget committee when it is co-chaired by Dumb & Dumber. Curwen & Depara have been doing the city and its residents a disservice while they have co-chaired this committee.
    Curwen & Depara sent the mayor a budget last year without cutting one budget request. Let me ask these two dumbasses: Why even bother holding budget hearings if you are not going to make cuts?
    Seems like Curwen got his reward with a $60,000 job, a job with no responsibility other than being the mayor’s piss boy.
    Can Depara be far behind after bravely (BS) suggesting and putting on the agenda the borrowing of $110 million? What this snake did left no room for public input and the dumb asses on the council just went along. Nice work Angel. There has to be a city do-nothing job in your future.

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  8. Local Eyes, you need glasses. How can you defend this practice that has grown out of control? Bridgeport is in worse financial shape than most cities in Connecticut. There may be a handful who have the level of poor practice as Bridgeport (West Haven, Hartford … maybe a few others). While times are not good for everyone, many towns have made the hard choices to start living within their means. Not Bridgeport. Why? Because the Mayor has no record of competence or accomplishment to stand on so if he told the TRUTH about the city’s finances and made some hard decisions, he would have no chance. I know you love the city of Bridgeport and want to support your leadership but can’t put lipstick on this pig.

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  10. The City has been losing at blackjack for years. Now Finch wants to move over to roulette tables, where the odds are 35-1.”Put it all on RED, Sherwood!”
    “You Degenerate Gambler, you!”
    Finch can now fire Sherwood and Curwen, and ask the City Council for a Audit.
    The New Sheriff said, “He’s going to clean up this town.” Yippy-I-OH
    I-OWE?

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    1. Jimfox // Mar 9, 2011 at 8:35 am

      to your posting

      Jimfox
      Cleanup begins with getting rid of the dirt.

      You may or may not agree, but there will need to begin on DAY ONE of the new NOT FINCH ANYMORE administration, the kind of work you do after cleaning up from Hurricane Greed! It’s slow, dirty work … with a final result that brings you back to a place to start … and that is what Bridgeport needs … a place to start.
      You all won’t be surprised will you if it’s not the Financial Review Board, but the Feds that are running all over Bridgeport to begin their oversight of the City books … but only after SHERWOOD’s run through all the taxpayer’s money.

      Think about that li’l doggie, yippy ai yea …

      Come help us … and blog as well …

      That’s what I’m doing …

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      1. LE

        Try to resist the temptation to shave your head and move to Arizona. Just calm yourself. You’ll be able to patch things up with the local community college.

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  12. OPEN LETTER TO BILL FINCH:
    Bill, as a former friend and supporter I am begging you. PLEASE DO NOT RUN FOR REELECTION.
    You have set this city back so far I am not sure we will ever recover. Bill, you have not done one thing to improve this city or to improve the living conditions of its residents. Let’s do a brief history check:
    You fired many competent department heads who have said no or that can’t be done. You have replaced them with a group of incompetents.
    You have allowed managers found guilty of sexual harassment to stay on the city payroll receiving light punishment.
    You have appointed a police chief who lives in Newtown and is supposed to live in the city.
    You have allowed the students of Sacred Heart to take over sections of the North End and have not enforced fire, building or housing codes.
    You have allowed favored developers to get away with not paying their taxes.
    You have kept the various boards and commissions stocked with people with expired terms. 27 out of 127 commissioners have proper serving terms, the rest have had their terms expire.
    You have failed to make two $20 million payments to the pension fund.
    You have allowed this city to become a dirty city, streets are filthy as are a number of lots.
    You have pissed off the neighboring towns to a point where you had to appoint Bob Russo in one case to represent Bpt in negotiations with Trumbull because they don’t want you there.
    You have hired a large number of unqualified people to fill BS jobs while screwing the career city employees.
    Bill, the list goes on and on.
    Please for the good of the city DON’T SEEK REELECTION.

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    1. Hold on, if Bridgeport doesn’t process Trumbull’s sewage, where’s it gonna go?

      Despite the generosities afforded by this blog, you are unqualified to give The Mayor advice.

      Puh-LEEEZ! For the good of the city, consider relocating today. Your pension is portable; take it with you. I’m sure you can find tinfoil wherever you go.

      Here’s the best part:

      I’ll help you pack.

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        1. Until 4 out of 5 dentists agree with your findings, your results remain unofficial, suspect and tarnished by opinion and unsubstantiated fact.

          Word around the campfire is you’re just a pukehead in search of a toilet.

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          1. If this city remains in the hands of those you support, my so-called quest for a toilet won’t take me too far.

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      2. I hope the sewage from Trumbull goes into your cellar as you live in Trumbull plus the fact that you are full of shit. You are part of the problem. Out-of-towners who think they can tell us what to do.

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  14. Can Bob Walsh come on here and explain how the City Council had no knowledge of the need for TANs (now a regular practice) until Monday night? Lennie I think this is a question that needs to be answered. These people are supposed to be watching out for us and they are doing a horrible job of it.

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  16. Medical Update:
    Initial reports suggested the Mayor was diagnosed with a large polyp on his colon. Upon further investigation it was discovered it was merely Local Eyes.

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    1. Lowering yourself to gastrointestinal buffoonery?

      Antitesto, you reveal your level of knowledge.

      BTW, your name/handle suggests a dislike of a restaurant, not a person. Please explain why you do not enjoy food.

      And don’t be surprised if Mario Testa is awaiting your response.

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  19. Local Eyes, how many beds are you in? It saddens me when I need to explain to one what is obvious to all. I don’t dislike Mario Testa. I dislike the regime of Testa’s. Anyone with an IQ above a baboon knows THAT is city hall. Finish your liquid lunch at Testo’s. I hope this raises your IQ.

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  22. Local Eyes alert:
    Of the 54 entries today, it is a fact that 18 of them at this moment are from you. 33% of the facts, feelings and static are from your part of the universe.
    Take a deep breath, maybe two or three would help settle you, or if you take medications to assist reaching serenity or whatever passes for that in your life, I hope you can find a calmer spot.
    I expect we will see you once again on Friday at the OIB party and the opening night of DOUBT. I saw the brown-bag preview this Noon at the Playhouse on the Green and recommend the play in general, but this cast is a good one and the dramatic moments in the script are shaping up.
    Local, if you get too far from the subject and attack people (especially in not particularly amusing or original ways), instead of responding to you people may regard you as Distant Eyes!

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    1. BEACON2, measured in words not posts, you are still the leading poster here.

      You confuse frequency with productivity.

      You’ve made your point.

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  23. BEACON2, very well put. Perhaps he is on some cold medication. I will break away for this afternoon. There is no point in having a battle of wits with an unarmed man.

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