Shelton mayor outlines modest FY26'27 budget, cites strong finances but flags state uncertainty

Mayor Miguel Loretti presented Shelton City's proposed fiscal year 2026'27 budget to the Board of Aldermen and the Board of Apportionment and Taxation, saying the plan reflects mostly modest increases tied to contractual obligations and the city's continued economic growth.

Loretti said the city has "maintained a very strong financial position," attributing it to conservative borrowing and steady growth in the tax base driven by redevelopment. He told the boards the administration has used shorter-term notes for some projects rather than long-term debt and noted recent capital spending, including the purchase of two fire trucks and a roof replacement at Higgin School.

As an example of contrasting approaches, Loretti criticized a regional authority purchase tied to an aquarium project, saying it involved a $2,400,000 purchase with debt service stretched over 40 years and a large long-run payout. He used the example to illustrate the difference between Shelton's shorter debt horizons and much longer borrowing elsewhere.

Loretti pointed to ongoing private development and an expanding manufacturing and corporate presence as reasons the city's grand list and overall revenue picture have strengthened. He named Bigelow Tea and a roughly 80-acre manufacturing/corporate park as examples of that local investment.

He cautioned that the budget as presented is not final: several line items were left pending because state funding and legislative actions remain uncertain. "There are some things that are gonna change," he said, asking members to expect revisions as the state budget becomes clearer in May and June.

The presentation closed with Loretti turning the floor back to the meeting chair. Because the session was for presentation only, the boards did not act on the budget at this meeting; the chair then moved to adjourn and the motion carried.