Financial Information

The Budget Process

Starting in January of each year, the Mayor consults with each Town Department Head, such as the Police Chief, the Fire Chief and the Town Engineer, to determine their expected needs and potential revenue sources over the course of the next fiscal year. In addition, the Mayor collects information from the State of Connecticut to determine Hamden's likely share of available state grants. The Mayor also collects information from banking professionals about the Town's debt service and how much interest might be generated on the Town's fund balance, which is similar to a savings account for the Town.

Each piece of information is placed into a single line item within the operating budget and presented to the Legislative Council for consideration. This is called the Mayor's Proposed Budget and it is delivered to the Legislative Council each year in mid-march. According to the Town's Charter, the Mayor's Proposed Budget must be submitted no later than 105 days before the end of the fiscal year.

Legislative Council

The Legislative Council, which is the Fiscal Authority according to Hamden's Town Charter, holds public hearings on the proposed budget prior to its deliberations. The Council then goes through several deliberation sessions and it questions Department Heads about the numbers in the Mayor's Proposed Budget then making any changes it feels necessary. Once the Legislative Council is satisfied with the budget, it is voted into effect by the Council members.

The Legislative Council has to adopt the Council Approved Budget by May 15th, which is 45 days before the end of the fiscal year. If the Council has not adopted a budget by May 15th, the mayor's Proposed Budget then goes into effect. The Mayor has the power to approve, veto or accept the entire Council Approved Budget within 15 days after the budget is adopted. The Legislative Council has the power to override the Mayor's veto with a 2/3 vote. After the budget goes into effect, only the Legislative Council has the authority to make changes to that budget.

Reports

Please view the following listing of the current and past budgets, budget proposals, official statements and audits:

Documents

Please view the following listing of additional financial documents:

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Under no circumstances shall the information on this website constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Offers to purchase securities may be made only through a registered broker-dealer and through an Official Statement of the Town.

The information contained on this website has been included for general informational purposes only. The information set forth is limited in scope and does not contain all material information concerning the Town or the Town’s bonds or notes necessary to make an informed investment decision. No person should make an investment decision in reliance on the information contained herein. Each document contained on this website speaks only as of its date. Readers are cautioned not to assume that any information has been updated beyond such date unless a document expressly states that it constitutes an update of a specific portion of a document. Past results do not necessarily forecast future results. Certain financial information and operating data, as well as information regarding certain material developments with respect to the Town and its securities, may be filed with the Municipal Securities Rulemaking Board Electronic Municipal Market Access (EMMA).

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