The Bloomfield Community Dispatch

One Rating Away from State Takeover: How Bloomfield CT's Financial Crisis Puts the Town on the Brink READ THIS FIRST: What's Happening in Simple Terms The Problem: Bloomfield has not finished its required 2024 financial audit. It is now one year late. Why It Matters: Without audits, no one knows if the town has enough money to pay its bills. Credit rating agencies cannot rate a town without audits. What Just Happened: S&P (a rating agency) lowered Bloomfield's grade from AA+ to AA. S&P warned it might stop rating Bloomfield entirely in 90 days. What Happens If S&P Stops Rating: Connecticut state law says towns with no ratings can be taken over by the state. The state would control Bloomfield's budget. What the Town Says: The town says it is working to finish the audit by February 2026. This is the fourth deadline the town has promised. By Peter C. Frank...