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Yonkers Mayor Mike Spano Proposes Fiscal Year 2017 Executive Budget

Post Date:04/15/2016 3:50 PM

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 Mayor Budget Meeting

YONKERS, NY – April 15, 2016 – Yonkers Mayor Mike Spano today released his Fiscal Year 2017 Executive Budget proposal at a briefing for the City Council at Yonkers City Hall.

The Executive Budget package takes significant steps towards fixing inherited structural problems in a balanced manner, while conforming to the property tax cap, maintaining City services and providing its largest contribution in history to the Yonkers Board of Education.

“The Fiscal Year 2016 Budget I present to you today is still a lean, balanced budget that strives to continue the progress we have made, with greater efficiencies and savings while staying within the confines of the state-mandated property tax cap that the City has accomplished for four consecutive years,” said Mayor Spano.

The Executive Budget for the Fiscal Year 2017 is $1.12 billion. 

Municipal Budget

The Executive Budget for the Fiscal Year 2016 includes a municipal operating budget of $546 million.

The Executive Budget proposes a 1.24% property tax levy increase, one of the lowest property tax increases since in 20 years. By staying within the cap this year, Yonkers residents will once again be eligible to receive property tax rebate checks by New York State.

The tax rate per thousand dollars of assessed value would increase by $6.84, an increase in the tax rate of .95%. Under the proposal, a typical one-to-three family home at the median assessed value of $11,300 would see their annual property tax bill increase by $77.29, or less than $6.50 per month.

The Budget provides for more efficiencies and savings through reorganization efforts while maintaining the same level of services. The Budget does not contain any layoffs. 

Additionally, the Executive Budget proposes $64 million in city capital improvements including:

· Hudson River Museum: Construction, Exhibition Galleries and Support Wing: $5.5M 

· Nodine Hill Water Tower Painting and Maintenance: $3.75M

· Citywide Reassessment Project: $2.5M

· Neighborhood Parks Rehabilitation: $8.24M

· New Firehouse Redesign: $1.2M

Board of Education

The Executive Budget includes a record $538 million appropriation for the Board of Education, an increase of $14 million.

The City will again increase its Maintenance of Effort (MOE) for the BOE, which includes $14.8 million from sales tax revenue which Mayor Spano proposed last year to dedicate specifically to education funding. The Executive Capital Budget also proposes an additional $35 million for school improvements and $5 million for textbooks and equipment. This is the largest contribution to the BOE in the City’s history. Mayor Spano has increased  the City’s combined contribution to the Board of Education by $41.7 million since Fiscal Year 2012. 

Mayor Spano added, “With $35 million in bonding for school improvements, it only temporarily fixes the decades old infrastructure issues plaguing the District’s 39 schools. The City is still advocating New York State to pass the enabling legislation that will provide Yonkers the ability to rebuild each of our schools. We remain vigilant in trying to secure the funding so each year we do not have to bond to temporarily band-aid our schools. To date, the New York State Legislature has not yet forth a bill to address this matter.”

Budget Snapshot:

• City provides largest contribution to Board of Education in the City’s history -- more than $538 million

• No layoffs of municipal or BOE employees; maintains services

• Proposes 1.67% increase in property taxes (one of lowest in 20 years)

• City of Yonkers stays within state mandated 2% tax cap for 5th consecutive year; residents to receive tax rebate from New York State

• $1.12 billion total budget 

Mayor Spano concluded, “I urge the City Council to build upon the spirit of cooperation that has passed four consecutive bipartisan budgets during my time in office and to work to pass, what I believe, is a fair and honest budget for our taxpayers and employees.”

The complete Fiscal Year 2017 Executive Budget can be downloaded at www.yonkersny.gov.

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