Hartford looking to borrow money to make ends meet - WFSB 3 Connecticut

Hartford looking to borrow money to make ends meet

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The city of Hartford is strapped for cash, despite layoffs and cuts (WFSB) The city of Hartford is strapped for cash, despite layoffs and cuts (WFSB)
HARTFORD, CT (WFSB) -

Despite recent cuts and massive layoffs, the capital city is still dancing dangerously in the red.

Mayor Luke Bronin said this year’s projected budget shortfall tops $60 million.

“At the end of the day, what we have is a budget structure that is broken and cannot be fixed at the local level alone,” Bronin said.

The city is now making calls and asking for help.

Bronin said the city has plans to borrow as much as $20 million.

"What we're doing by borrowing the money now is simply trying to buy a little more time to get that comprehensive sustainable solution that we've been working on with the state,” Bronin said.

If the state doesn’t throw out a life preserver in the form of cash, Bronin said Hartford’s finances will remain under water.

The city budget must be finalized before the state budget is completed.

"That's a challenge every year, but obviously in a time of crisis like this that challenge is all the greater,” Bronin said.

The governor’s plan to tax non-profit hospitals would bring Hartford $34 million, but it is unclear if lawmakers will support it.

Either way, Bronin said he will keep looking for ways to make the numbers work.

"We've a made a lot of tough choices and we've made a lot of choices that I wish we didn't have to make but what I’m focused on is whoever comes after me doesn't have make those tough choices,” Bronin said.

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