Beruflich Dokumente
Kultur Dokumente
Source: New Haven Bond Prospectus, March 15, 2011.
Tuesday, April 26, 2011 AFSCME Research Department 1
Debt Service Burden Exceeds
All But One Peer City
Source: FRAC Financial Plan, September 1, 2010.
Tuesday, April 26, 2011 AFSCME Research Department 2
Schools Dominate Debt
Excludes authorized but unissued debt.
Source: New Haven FY 2011‐12 Mayor’s Proposed Budget.
Tuesday, April 26, 2011 AFSCME Research Department 3
City’s Fiscal Condition is Not Distressed
Source: City of New Haven Mayor’s Proposed Budget FY 2011‐12, p. 2‐58.
Tuesday, April 26, 2011 AFSCME Research Department 4
Fund Balance Comparable With Peers
Source: FRAC Financial Plan, September 1, 2010.
Tuesday, April 26, 2011 AFSCME Research Department 5
Nearly Half of Real Property Is Exempt
• Exempt property 45%
of total assessed value
• New Haven’s property
tax share of revenue
lowest among CT cities
• Yale Fire Payment
would decrease under
Mayor’s budget
Tuesday, April 26, 2011 AFSCME Research Department 6
City Personnel Levels Declining
Tuesday, April 26, 2011 AFSCME Research Department 7
Overgenerous Benefits?
• Assistant Custodian
– $38,620 salary today
– Work 30 years for a 70% pension ($27,000)
– No Social Security
– Employee pays 6% of salary toward pension; City’s normal cost is 7%
– Unfunded liability = 19.8% of salary
• Police Officer (Top Rank)
– $62,501 salary
– 20 years’ service for 50% pension, 30 years for 80% ($50,000)
– No Social Security
– Employee pays 10% of salary; City’s normal cost is 11.53%
– Unfunded liability = 24.72% of salary
• Unfunded liabilities are a serious issue and increase with layoffs,
but are solvable long‐term
Tuesday, April 26, 2011 AFSCME Research Department 8
High‐Deductible Health Plan Problems
• Deductibles, out‐of‐pocket
costs unaffordable
• Do not control medical
costs, just shift them
• Sickest employees &
families bear undue burden
• Adverse selection
undermines existing plans
• Health care is not an
efficient marketplace
Tuesday, April 26, 2011 AFSCME Research Department 9
Layoffs, Privatization Will
Cause Long‐Term Harm
Pay Comparison Impacts:
• Reliance on public
assistance (SNAP, School
Lunch, HUSKY, Section 8,
child care assistance)
• Earned Income Tax Credit
• OR a second PT job (ends
eligibility for most aid)
• Social harm from poverty,
multiple jobs, and lack of
health care
Tuesday, April 26, 2011 AFSCME Research Department 10
Sensible Solutions
• Cut borrowing
• Examine hiring and management ratios
• Increase oversight of capital program
• Boost Nonprofit Payments program
• Increase enrollment in National School Lunch
• FRAC revenue strategies
Tuesday, April 26, 2011 AFSCME Research Department 11