Press Release, Contact: Jim Leydon, Communications Director
Mayor Sarno Releases Recommended Fiscal Year 2016 Budget
Budget Balanced, No Reserves Used For the First Time Since FY 2008
May 7, 2015 – Springfield, MA – Mayor Domenic J. Sarno and CAFO Timothy Plante released the Recommended FY 2016 budget for the City of Springfield. Crafting the yearly budget with the City’s long-term fiscal health guiding the process has led to the highest bond ratings in the City’s history, Standard and Poor’s AA- and Moody’s Investor Services A2 with a positive outlook. This year’s budget represents another milestone, for the first time since FY 2008 the City’s budget is balanced without the use of reserves.
Mayor Domenic J. Sarno stated, “Faced with the worst economy since the great depression, natural and man-made disasters; the Sarno Administration continues to solidify the City’s fiscal foundation. I am extremely proud of our whole financial team headed by CAFO TJ Plante” Mayor Sarno went on to say, “Our goal will continue to be efficient, effective, and compassionate delivery of City services as we move our Springfield forward.”
CAFO Timothy Plante stated, “I am proud of our finance team and city cabinet and department heads for the collaborative effort in crafting this budget. Under Mayor Sarno’s leadership we have preserved core city services without surrendering our goal of long term fiscal health. This is a budget that the residents and businesses of Springfield can be proud of.”
The budget now heads to the Springfield City Council for debate. Under the Springfield City Character the council can reduce funding but not add to the recommended budget.
The Mayor’s recommended budget will be available on-line, www.springfield-ma.gov .
Please see the attached budget transmittal letter highlighting funding priorities in the FY 2016 recommended budget.