# BoA Finance Committee 11/9/2026

The New Haven Board of Alders Finance Committee met on November 9, 2026, to consider financing for a litigation settlement, a year-end budget transfer, and monthly financial reports. The committee approved favorably an ordinance authorizing up to $17.5 million in general obligation borrowing for the city’s settlement, which staff said is $16.5 million before estimated issuance costs of up to $1 million. Staff said they were evaluating a short-term private placement—potentially through an RFP process—versus a public bond offering, with a preliminary target closing date of December 23. Members discussed interest costs, debt-service and credit-rating effects, and the possibility of future settlements; no financing method was finally selected during the meeting.

The committee also approved the year-end transfer to reconcile fiscal year 2025–26 accounts and eliminate negative balances. Staff described an approximately $8 million remaining deficit after revenue above budget, with the city’s fund balance expected to decline from about $55.5 million to $47 million. Members discussed Board of Education transportation costs and requested follow-up information on plans to reduce them, as well as greater detail on certain police forfeiture funds. The July–September financial reports were received and filed. No vendor or construction contract awards were made.

**Jurisdictions:** sled
**Published:** November 09, 2026

### Sources
- [BoA Finance Committee 11/9/2026](https://www.youtube.com/watch?v=3vGzO1-nqCc) - Board of Alders