The recent discovery by the city’s Finance Department has forced the city to borrow the funds in order to replenish its coffers and avoid a cash crunch during future projects. The City Council approved the bonding measure with a 6-1 vote on Monday. There is no immediate impact on the current budget. The cost overruns took place in 2009, 2014 and 2015, when the city was run by former City Manager Martin Berliner and Mayor Daryl Justin Finizio, who served as mayor from 2011 to 2015. The missing $3.1 million was not immediately discovered because the city has a rolling capital improvements budget that is replenished each year for various projects.
https://www.theday.com/local-news/20200820/new-london-finds-city-overspent-by-31-million-on-public-works-projects