Waterford Board of Finance member Sheehan predicts more Furlough days needed

In a recent comment in The Day newspaper, Waterford Board of Finance member Bill Sheehan, who uses the screen name “wtfdnucsailor” when commenting on The Day newspaper articles, predicted that the Town of Waterford will ask for additional furlough days to close the budget shortfall beyond the two days already requested by First Selectman Daniel Steward.

On February, 20, 2010, Sheenhan commented on a recent day newspaper article wrote the following, “Don’t be surprised if the First Selectman and the Superintendent of Schools has to ask for more furlough days after the budget hearings.” Sheehan stated that the Board of Finace “has its work cut out to find the additional reductions ($1,259,014).

Read BOF member Sheenhan’s full comment:

wtfdnucsailor Posted – February 20, 2010 12:01 PM

I am very thankful that the Town union chose to take the furlough days. If all town unions take two furlough days, it will be a reduction of around $84,000 including the FICA reduction. An actual calculation of the reductions proposed by the First Selectman will result in a total budget increase or 3.6% but due to the revenue reductions predicted, the actual tax increase would by 7.86%. This is still too high. In fact, if the budget increase was 1.8%, the worst case tax increase is 5.84%. So, the Board of Finance has its work cut out to find the additional reductions ($1,259,014) to reach that small budget increase. Don’t be surprised if the First Selectman and the Superintendent of Schools has to ask for more furlough days after the budget hearings.