New Haven Citizens Action Network » Accountability

Unfunded Pension Obligations

jeffrey.kerekes — Tue, 15 Jun 2010 12:13:56 +0000

Check out this article in CT News Junkie on Unfunded Pension Obligations

An important piece this article does not mention is the “discount rate” or “Return on Investment” assumptions. When you assume, as New Haven does, a high and unrealistic 8-9% return every year, year after year, you only need to put in a small amount of money AND you can claim that we are “funding the pensions at 100% actuarial required amount”. The problem, is that if you assume 5% then the amount we need to put away in our CERF and P&F funds would skyrocket each year. Our funded ratio is very low AND we assume a high rate of return. I would recommend you request from our actuaries SEVERAL scenarios with the rate of return, pessimistic/ best guess/ optimistic ROI. Our current ROI is hopelessly optimistic and concealing the true problem in our city’s pension funds.

Summary of BOA Final Budget Vote: “Let Them Eat Cake”

jeffrey.kerekes — Fri, 28 May 2010 16:03:18 +0000

Read the summary of the Board Of Alder meeting last evening on the City’s 2010-11 Budget and see how they voted.

Take The Mayor’s Quiz!

jeffrey.kerekes — Fri, 21 May 2010 20:41:44 +0000

Download the PDF version to take the Mayor’s Budget Quiz or click the image below.

Call your alderperson and tell them to hold the line on no tax increase

jeffrey.kerekes — Mon, 17 May 2010 11:49:35 +0000

There are signs that Alderpersons will ignore a historic petition of over 1000 names and make a compromise. Let them know how you feel about a tax hike in the worst economy since the great depression. Even DeStefano agreed to sign the petition (but then refuse) and sent out campaign literature only a few months ago touting that people can’t take a tax increase in this economy. Has the economy gotten better? Why is there now a proposed increase of between 9-20+%? That range which is often ignored by the media is directly from the Mayor’s own Management and Budget Office. We didn’t compute it, twist it, or massage it. Straight from Management and Budget. The reason they don’t say it to the press, is that they are trying to pull a fast one. Don’t let your alderperson try to sneak away from the true increase for some people of over 20% in this economy.

See the NHR article in todays paper
See the Op-Ed from yesterday’s paper on the BOE

Call Justin Elicker at 203-500-2969

jeffrey.kerekes — Tue, 11 May 2010 18:26:16 +0000

Lets put the pressure on Justin Elicker, BOA Finance Committee Member. Let him know how you feel about the budget or how a 9-20% tax and rent increase will effect your life. Be nice, but be clear and ask him to join over 1000 people who signed the petition.

10-D

Justin Elicker

Ward10@newhavenct.net

192 Willow Street

06511-2531

H:203-500-2969

How Will Your Alderperson Vote? Check Back update: Tuesday, May 18

jeffrey.kerekes — Mon, 10 May 2010 18:30:03 +0000

Updated

FINANCE COMMITTEE MEMBERS to vote on Mayors PROPOSED Budget Tuesday, May 18, 7pm City Hall.
Shah (Chair), Clark (Vice-Chair), Perez, Goldfield, Jackson-Brooks, Castro, Lemar, Morehead, Elicker, Bauer, O’Sullivan-Best

See how they voted in past budget cycles

PHOTO	WARD	NAME	ADDRESS	ZIP CODE	PHONE
	4-D	Andrea Jackson-Brooks Ward4@newhavenct.net	102 DeWitt Street	06519-2131	H:203-776-0502
	5-D	Jorge Perez Ward5@newhavenct.net	24 Cassius Street	06519-2313	H:203-562-4373
	7-D	Frances T. Clark Ward7@newhavenct.net	320 Audobon Court	06511-1203	H:203-772-4455
	9-D	Roland Lemar Ward9@newhavenct.net	6 Eld Street	06511	H:203-507-7869
	10-D	Justin Elicker Ward10@newhavenct.net	192 Willow Street	06511-2531	H:203-500-2969
	11-I	Maureen O’Sullivan-Best Ward11@newhavenct.net	54 Foxon Street	06513-2320	H:203-467-9783
	14-D	Stephanie Bauer Ward14@newhavenct.net	55 East Pearl Street	06513-4309	H:203-785-0065
	16-D	Migdalia Castro Ward16@newhavenct.net	203 Saltonstall Avenue-Court Cottage	06513-4250	H:203-777-6835
	22-D	Greg Morehead Ward22@newhavenct.net Ward22 website	13 Frances Hunter Drive	06511-3604	H:203-507-7766
	23-D	Yusuf I. Shah Ward23@newhavenct.net	59 Gilbert Avenue	06511-5331	H:203-507-7679
	29-D	Carl Goldfield Ward29@newhavenct.net	25 Roydon Road	06511-2806	H:203-782-2064 W:203-787-9222

What Changed in 6 Months?

jeffrey.kerekes — Tue, 04 May 2010 02:05:19 +0000

Poster Campaign

jeffrey.kerekes — Tue, 04 May 2010 00:51:36 +0000

Please help keep up the pressure on our Board of Alders by posting these posters in your home, office and car windows. We have a variety to choose from and we have FREE hard copies available of the I Can’t Afford To Love New Haven. We just need to know where to drop them off. Feel free to print some out from our PDF version.

Send us a picture of one of our posters!!!

Thank You

jeffrey.kerekes — Thu, 29 Apr 2010 18:25:50 +0000

Thank You

We had a very successful turn out last evening and even won over the people turned out by the Mayor. Lets keep up the pressure to have the Board of Aldermen send the budget back to the Mayor.

Come Wednesday, April 28, 2010 @ 6:30 pm

jeffrey.kerekes — Tue, 27 Apr 2010 02:56:26 +0000

Final Public Hearing On The Budget. Bring Friends

City Hall, 165 Church Street, New Haven, CT 06511