Mayor Pedro Segarra announced Monday the city will close fiscal year 2012-2013 with a surplus of $800,000. That money will be added to the city’s Rainy Day Fund.
In addition, Hartford was also able to make an $11 million payment to the city’s pension fund, fully meeting their obligation for the fiscal year. It’s the fourth consecutive year that this obligation has been met.
Segarra credited the surplus in part to continued improvements in tax collections, which exceeded the operating budget this year by an estimated $6 million, as well as new approaches and strategies for taxpayers.