New London running out of cash, mayor says - Los Angeles News | FOX 11 LA KTTV

New London running out of cash, mayor says

Posted: Updated:
Connecticut State News Connecticut State News

NEW LONDON, Conn. (AP) - New London Mayor Daryl Justin Finizio has asked the state for help because the city is running out of cash and won't be able to make its $1.7 million payroll this week.

The Day of New London reports (http://bit.ly/1jCuNLi ) that Finizio disclosed the problem to the City Council on Monday. The mayor said he called Gov. Dannel P. Malloy and asked that the state expedite payment of $11 million in state education aid that's due to the city.

Finizio says Malloy agreed to the request and the city should be able to make its payroll by the end of this week.

A city consultant says the city's fund balance should be at least $13 million to equal two months of operating expenses, but the fund balance has withered to $400,000.

Information from: The Day, http://www.theday.com

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

  • Connecticut NewsConnecticut NewsMore>>

  • Foley wins Connecticut Independent Party backing

    Foley wins Connecticut Independent Party backing

    Tuesday, August 19 2014 9:35 PM EDT2014-08-20 01:35:03 GMT
    Republican gubernatorial candidate Tom Foley has won the endorsement of the Independent Party of Connecticut, securing a second spot on the November ballot. Foley's campaign confirmed the Greenwich businessman won the third party's endorsement at Tuesday night's party caucus.
    Republican gubernatorial candidate Tom Foley has won the endorsement of the Independent Party of Connecticut, securing a second spot on the November ballot. Foley's campaign confirmed the Greenwich businessman won the third party's endorsement at Tuesday night's party caucus.
  • Off-duty state trooper arrested on DWI after crash

    Off-duty state trooper arrested on DWI after crash

    Monday, August 18 2014 6:25 AM EDT2014-08-18 10:25:40 GMT
    A Connecticut state trooper has been accused of driving under the influence after a crash in Ellington.
    A Connecticut state trooper has been accused of driving under the influence after a crash in Ellington.
  • Sales tax-free week in Connecticut

    Sales tax-free week in Connecticut

    Friday, August 15 2014 12:01 PM EDT2014-08-15 16:01:03 GMT
    Connecticut shoppers will soon get a temporary reprieve on their state sale taxes.
    Connecticut shoppers will soon get a temporary reprieve on their state sale taxes.
Powered by WorldNow

KTTV FOX 11
1999 S. Bundy Dr.
Los Angeles CA 90025

Main: (310) 584-2000
News Tips? (310) 584-2025

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices