The Hidden Cost of Low Tax Increases: Enfield’s Shrinking Fund Balance

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Whoever wins Tuesday’s election may soon wish they hadn’t. The new Town Council will inherit a budget crisis shaped by two converging forces: a new property revaluation and a dangerously depleted fund balance — the town’s financial cushion for emergencies and unexpected costs. How Did We Get Here?  Over the past two years, the Republican-controlled council has drawn at least $13.6 million from the fund balance to keep tax increases low.  What Is the Fund Balance? The unassigned fund balance consists of unspent money from department budgets and revenues that exceed expectations. In municipal budgeting, it serves as a safety net — covering unexpected emergencies such as sewer failures, and lawsuits. It can also be used strategically to soften tax increases, especially in revaluation years. The key word is strategically. Using reserves occasionally makes sense. Draining them year after year — especially before a revaluation — does not. What Happened Over the Past Two Years At the...

Connecticut Millennials are overpaying for higher education


The new Democratic nominee for governor, New Lamont, says he wants to make make community college free for those students with "financial need." That's great, except just about everyone graduating from college today is in "financial need."
My benchmark on this issue is from my own experience.
I started attending Central Connecticut State University in 1976. A full year – two semesters – cost an in-state resident in tuition and fees $601. 
Adjusted for inflation, the $601 tuition/fees that I paid in 1976 should be, in today's 2018 dollars, $2,693.
For the 2017-18 academic year, the in-state tuition and fees at CCSU is $10,225 – adjusted for inflation, that is almost four times my cost
Moreover, I did not pay tuition because my non-combat military service was Vietnam era. (The state still has a veteran waiver, but I'm not sure if it's as comprehensive.)
When I was a Connecticut student, I can't recall anyone complaining about the cost of college. The idea that students would graduate with a mountain a debt wasn't a topic of discussion. It wasn't the crisis it is today.
In my view, in-state students are getting the short-end. We have screwed our state students over royally, and the Millennial generation is paying far more for college than I was asked to pay. There is no reason for it.
While the idea that college should be "free" is often met derision, the reality is that college was practically free for my Baby Boom generation.
The counter-arguments to this take two tracks. First, reducing state college tuition and the debt burden for new Connecticut students will be unfair those students still paying down debt. Second, as expensive as the Connecticut state universities are today they are one third to one fourth the cost of a private college. 
We have to start somewhere in this state. Connecticut's state colleges as well as the community colleges should be affordable. As affordable as they were for the Baby Boom generation. 


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