Letter — Bipartisan action saved town $1.2 million
Editor's Note — This letter was submitted prior to Gov. Dannel Malloy's veto of the budget that passed the state House and Senate last week.
Thank you to the Town of Trumbull Finance Department and Finance Director Maria Pires for saving the Town of Trumbull an estimated $1.2 million over the next two years through a refunding and refinancing of town municipal bonds.
The Town of Trumbull will lose $5 million in state aid funds for education, roads, and capital improvements if Gov. Malloy vetoes the Republican budget and continues his budget by executive order. In addition, the Town is being forced to pay for an additional $5.5 million in state pension costs due to years of state mismanagement. In these tough times, we need to do everything we can to save money while preserving important town services. This refunding will help mitigate the devastating 3% revenue cut to the town’s budget by Gov. Malloy.
I was happy that the refunding resolution received bipartisan support from the Trumbull Town Council and passed with unanimous support at the September 18 special meeting. I was however disappointed that Town Treasurer Anthony Musto was not present at the council meeting to offer his support for the resolution. I guess I’m not surprised that he would not support an effort to save money seeing as he voted for the largest tax increase in Connecticut’s history when he was Trumbull’s State Senator..
In addition to the absence of Musto, it appears a few of the Democratic Town legislators could not grasp the concept of saving money by refunding and refinancing municipal bonds. The Town Council meeting and discussion stopped for 2 to 3 minutes while several Democratic councilmen quietly caucused on the merits of saving the Town about $1.2 million dollars. If you ever want to see an instance of overthinking, please view this meeting on the Trumbull Community Television website or on your local community access channel. Given these difficult times, we need candidates who understand how finances work. While I have come to expect Malloy and the Hartford Democrats being averse to advocating for savings for taxpayers, I would expect here at home that our Town Council and Board of Finance jump at the chance to save money. A lot of times when we go to the polls we vote with our heart, given the condition of our once great state, it’s time we start voting with our wallets.
I appreciate the work of our volunteer board and commission members and applaud them for doing the right thing, but I implore our townspeople to do their due diligence and research before voting for candidates in November.