New London - Mayor Daryl Justin Finizio will issue an executive order this morning regarding the preparation of the city's 2012-13 budget.

Finizio's spokesman, Zak Leavy, informed reporters via email Sunday that the mayor's announcement will take place at 9:30 a.m. in the city clerk's office.

Leavy said the order provides directors and department heads with guidance on how to deal with overruns in their budgets in the next fiscal year. He said the mayor will also set a deadline for completion of a 10-year budget plan. It is the sixth executive order of the Finizio administration.

Last week, when the City Council approved an $83 million budget - about $4 million less than what Finizio had requested - he said the city is now facing significant layoffs and reductions in services.

Finizio's proposed $87.1 million plan, would have resulted in about a 20 percent increase in the tax rate but the council budget reduced the tax increase to about 8 percent.