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:

Notice and Disclaimer

You must read the following information before using this website of the Town of Hamden, Connecticut (the “Town”).

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).

This website contains certain forward-looking statements that are subject to a variety of risks and uncertainties that could cause actual results to differ from the projected results, including without limitation general economic and business conditions, conditions in the financial markets, the financial condition of the Town and various departments and authorities, receipt of federal and state grants, litigation, arbitration, force majeure events and various other factors that are beyond the control of the Town and its various departments and authorities.  Because of the inability to predict all factors that may affect future decisions, actions, events or financial circumstances, including, in particular, current adverse global financial market and economic conditions, what actually happens may be different from what is set forth in such forward-looking statements.  Forward-looking statements are indicated by use of such words as “may,” “will,” “should,” “intends,” “expects,” “believes,” “anticipates,” “estimates” and others.

Bonds and notes may not be sold, nor may an offer to buy be accepted, prior to the time an Official Statement of the Town is delivered in final form.  A definitive Official Statement with respect to any bonds or notes of the Town will be made available concurrently with their sale.  A Preliminary Official Statement for any bonds or notes may be obtained on this website and from the firms listed on the cover of the Preliminary Official Statement.

Any Preliminary Official Statement relating to bonds or notes included on this website is provided only as a matter of convenience.  For investment advice on bonds or notes, please contact your investment advisor.  No statement found on this website is incorporated by reference in any Official Statement for bonds or notes and no statement on this website is part of any Official Statement.

By choosing to continue and view the information on this website, you are acknowledging that you have read and understand and accept the terms of this Notice and Disclaimer.

  1. General
  2. Pension Documents
  3. Revenue and Expense Reports