Hartford Mayor Pedro E. Segarra said his proposed fiscal year 2016 budget would close a nearly $49 million gap with a combination of spending cuts, debt restructuring and the use of reserves from a health benefits trust fund.
The $534 million budget proposal, released Monday, would hold the city’s property tax rate flat at 74.29 mills — the highest in the state — and would not require layoffs, the mayor said.
The budget would also allow for the hire of 41 public safety employees, the required $36 million contribution to the city’s retirement fund, and a flat $284 million contribution to the city’s public schools.
Segarra said closing the budget gap could have required raising the mill rate by more than 14 mills or eliminating more than 470 fulltime city jobs.
Instead, the mayor wants to cut departmental budgets by $12.8 million, save $12 million through a round of debt restructuring, and use the remaining balance of a yet-to-be-created trust fund for post-employment benefits to cover some of the gap.
