05/16/2024
Treasurer Russell Hosts 2024 Connecticut Public Finance Outlook Conference, Brings Hundreds of Local Finance Professionals and Investors Together in New Haven
NEW HAVEN, CT — Treasurer Erick Russell hosted over 200 municipal finance professionals, local leaders, and investors in New Haven on Thursday at the 2024 Connecticut Public Finance Outlook Conference.
The event highlighted economic and fiscal issues facing Connecticut’s cities and towns, including updates on state and national trends and several key programs administered by the Office of the Treasurer.
“This conference was a great opportunity to gather local officials and investment professionals in the same room to discuss the economic conditions facing Connecticut municipalities,” said Treasurer Russell. “We all have a vested interest in having strong local economies and it was heartening to see so many likeminded people come together with that same goal. The work that’s been done on the state level in recent years to stabilize state finances and build a strong economic foundation is also benefitting our cities and towns. Today we heard how that will impact the future, how municipalities can prepare effectively, and how the state can continue to support those efforts with resources and collaboration.”
The Office of the Treasurer has convened similar conferences on municipal finance in prior years, though this is the first since the COVID-19 pandemic. In May of 2023, Treasurer Russell and Governor Ned Lamont co-hosted the inaugural Connecticut Investor Conference, which highlighted opportunities for investment in the state and brought over 300 investment professionals from across the country to Hartford.
Thursday's event, hosted at Hotel Marcel, featured panels and presentations on a variety of programs, policies, and economic projections. A fireside chat with Webster Bank Chief Financial Officer Glenn MacInnes and Torsten Sløk, a Partner and Chief Economist for Apollo Global Management, provided expert insight on national economic trends.
Treasurer Russell and Speaker of the House Matt Ritter provided updates on Connecticut’s fiscal position following the completion of the recent legislative session. They covered a host of topics including the state’s fiscal guardrails, the status of the state's pension investments, and state resources to support municipal governments.
A panel of local leaders, moderated by the CT Mirror’s Mark Pazniokas, delved deeper into the challenges facing municipalities and the creative ways towns and cities are preparing for the future. New Haven Mayor Justin Elicker, North Haven First Selectman Mike Freda, Westport First Selectwoman Jennifer Tooker, and Bloomfield Mayor Danielle Wong participated in the discussion.
Staff from the Office of the Treasurer provided updates on several key programs administered by the agency and discussed areas of public policy with municipal impact, including:
· The funding and performance of the Municipal Employees’ Retirement Fund;
· The importance and performance of the Short-Term Investment Fund, the short-term investment vehicle for the state’s cash that is also utilized by cities and towns;
· The Clean Water Fund State Revolving Fund Program;
· The Community Banking Program;
· The Firefighters Cancer Relief Fund;
· And Connecticut’s first-in-the-nation CT Baby Bonds program.
A team from the Unclaimed Property Division was also on-hand to help officials locate and claim lost or abandoned funds for which a municipality is the rightful owner.
“I appreciate the insight of our speakers and panelists, the hard work of my staff in organizing this conference, and the interest and enthusiasm of the hundreds of attendees,” said Treasurer Russell. “I’m looking forward to building on these conversations to support our local governments, and to hosting similar conferences in future years.”
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Contact: Tyler Van Buren
tyler.vanburen@ct.gov | (959) 529-2468