Thursday, March 5, 2009

Record Snowfalls Bust Budgets

Many cities in Connecticut were already hoping global warming was going to save them from the high costs of snow removal. Some cities budgeted for about 7-10 snow storms and with that number smashed to 12 this year funds are coming up short and creative accounting is taking place.

A large scale snow storm could cost as much as One Million dollars an inch to remove, and if the snow has to be cleared outside regular hours, meaning into the early morning pay rates for many city employees could rack up fast as they collect overtime, double time, and report lots of hours.

The toll on local budgets is still being added and some cities are issuing municipal bonds. We know that Milford will be impacted somewhere in its bottom line and the final figures will be posted when those numbers are made available.

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