Board of Estimate & Taxation 09-14-2026

The City of Norwalk, Connecticut Board of Estimate and Taxation held its regular meeting on September 14, 2026, focusing primarily on budget transfers and fiscal year-end financial updates. The board approved several budget transfers for fiscal year 2026, including reallocations to cover salary overruns in various departments such as police, fire, and transportation, as well as adjustments related to social security and overtime costs. A notable transfer involved moving $20,000 from the City Clerk's office to Community Services for veterans services. The board also discussed library budget transfers to address increasing costs for eBooks and digital content, approving internal reallocations without additional contingency funds. The fiscal year 2026 end-of-year report indicated a projected surplus of approximately $860,000, with positive variances largely driven by salary savings and other revenue sources. The fund balance was reported to be around $74-75 million, maintaining the city's AAA bond rating despite warnings about thin reserves. Additionally, the board received an update on a successful $60.3 million bond sale with a favorable interest rate of 3.65%, reaffirming the city's strong credit standing. No new appropriations were requested; all transfers were internal budget adjustments to address overruns and shifting priorities.