Overall spending increase in 2015-16 budget just 0.64 percent.
Annual average budget growth of 0.88 percent – less than 1 percent per year.
Cumulative budget increase of 3.5 percent since O’Leary Administration’s first budget in fiscal year ’13. That’s far lower than increases in the cost of living (8.5 percent) and the Consumer Price Index (6.4 percent) over those years.
Mayor O’Leary has made great strides in stabilizing Waterbury’s municipal finances. Since taking office on Dec. 1, 2011, Mayor O’Leary remains committed to reducing spending, reducing the City’s workforce and containing the City’s spiraling health-care costs.
All these financial moves resulted in a bond-rating agency late last year, reaffirming the City’s long-term bond rating at A+ with a stable outlook. This improved rating reflects the strong financial management of the O’Leary Administration and has enabled the City to undertake some long-term projects that include improvements to our parks, schools, library and other infrastructure.