The agreement to save money on state employee compensation negotiated by Gov. Dannel Malloy and the State Employees Bargaining Agent Coalition last year will save $3.5 billion over 20 years, according to the latest actuarial valuation, less than half of the $8.3 billion estimated by the administration last year. According to documents released last year [...]
The University of Connecticut Foundation will pay about $4,500 to send Gov. Dannel Malloy to the World Economic Forum annual meeting in Davos, Switzerland, while the state owes the foundation $18 million in matching grants. Since 2007, the state has pledged to match one quarter of all donations to the UConn Foundation endowment. This commitment [...]
During the contentious Connecticut budget debates of 2011, a Latino advocacy commission had to award all the money in a small scholarship fund containing private donations to avoid losing it in a budget-balancing sweep of the account. Going into the budget debate, Connecticut faced a $3.5 billion deficit – give or take. Newly-elected Gov. Dannel [...]
Connecticut owes its employees billions of dollars in future pension benefits, a fact that is currently hidden in the footnotes of its financial reports, but a few changes on the way will make these debts more transparent. In addition to the money invested in the state’s pension funds, Connecticut owes employees about $25 billion in [...]
Connecticut’s planning and budget agency, the Office of Policy and Management, is breaking the law – according to auditors – because the agency’s leaders don’t even know how many reports they are required to write. The General Assembly requires at least 100 OPM reports by law, auditors say, although there are no clear penalties for [...]
The University of Connecticut Health Center is considering an exclusive agreement with union contractors on its $864 million revitalization project known as Bioscience Connecticut, despite concerns about legal challenges and the increased costs under such agreements. “We are evaluating options and a decision has not yet been made,” said health center spokesman Chris DeFrancesco. According [...]
Each Connecticut taxpayer would need to write a check for $41,200 to pay off the state’s debts, prompting the Institute for Truth in Accounting to name the state a “sinkhole.” Connecticut’s per taxpayer burden is 73 percent higher than Kentucky’s, another sinkhole state. Its taxpayer burden is larger than the combined burden of the 17 [...]
The Windham cable-access show Face of Pro-Life invited Zachary Janowski to talk about the state budget and other topics on April 26. Related articles: Embryo mix-up doesn’t hurt doctor’s bonus $2 million claim pending against CT in embryo mix-up 1,126 Connecticut Employees Earn More Than Governor SustiNet won’t help those who need it most What [...]
Adding insult to injury, the State Comptroller announced state police union dues will rise 2.5 percent the same day the Hartford Courant reported 57 troopers will get pink slips. Gov. Dannel Malloy is laying off about 6,500 state employees to fill a $1.6 billion budget gap over the next two years. Less than 500 layoffs [...]
The 6,500 layoffs proposed by Gov. Dannel Malloy to balance the state budget – in addition to their impact on state government – will also cut into the budgets of the unions that represent state employees. The State Employee Bargaining Agent Coalition and its member unions recently failed to pass a tentative agreement with Malloy, [...]
