Politics & Government
Derby Wrestles With $1.1M Budget Shortfall: Report
Some officials had banked on the city receiving state grant funds to cover the financial hole, but the money reportedly has not arrived.
DERBY, CT — Derby is facing a $1.1 million shortfall in the 2021-2022 city budget, which officials hope can be filled by various grants that the city had not anticipated, reported the Connecticut Post.
The city finalized its current municipal budget of $47.4 million in the spring before the state finalized its spending plan. Some Derby officials expected the money from the state that would cover the shortfall, but those funds have not arrived.
However, new grant money appears to be coming in, and those funds, and about $400,000 in debt service funds that do not need to be spent, might be able to make up the difference, according to officials.
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Read the Connecticut Post story.
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