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YONKERS MAYOR MIKE SPANO PROPOSES FISCAL YEAR 2018 EXECUTIVE BUDGET

Post Date:04/13/2017 5:16 PM
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YONKERS MAYOR MIKE SPANO PROPOSES FISCAL YEAR 2018 EXECUTIVE BUDGET

Budget Contains No Cuts in Essential Services or Municipal Layoffs;

Stays Within State-Mandated 2% Tax Cap

 City Provides Largest Contribution in History to Yonkers Board of Education

 Budget 2017

Mayor Spano Presents his 2018 Executive Budget to the Yonkers City Council

Photo Credit: Maurice Mercado

YONKERS, NY – April 13, 2017 – Yonkers Mayor Mike Spano today released his Fiscal Year 2018 Executive Budget proposal at a briefing for the City Council at Yonkers City Hall.

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

“The Fiscal Year 2018 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,” said Mayor Spano.

The Executive Budget for the Fiscal Year 2018 is $1.14 billion.

Municipal Budget

The Executive Budget for the Fiscal Year 2018 includes a municipal operating budget of $561.8 million.

The Executive Budget proposes a 0.27% property tax levy increase, the lowest property tax increase in 20 years.

The tax rate per thousand dollars of assessed value would increase by $6.32, an increase in the tax rate of .84%. Under the proposal, a typical one-to-three family home at the median assessed value of $11,200 would see their annual property tax bill increase by $70.78, or less than $6.00 per month.

The Budget provides for more efficiencies and savings through reorganization efforts while maintaining the same level of services. The Budget uses all of the City’s fund balance and eliminates most vacant positions, but does not contain any layoffs.

Board of Education

The Executive Budget includes a record $539.5 million appropriation for the Board of Education.

The City will again increase its Maintenance of Effort (MOE) for the BOE, which includes $15.7 million from sales tax revenue which the Administration proposed to dedicate to education funding. The Executive Capital Budget also proposes an additional $35.75 million for school improvements and $5 million for textbooks and equipment. This is the largest contribution to the BOE in the City’s history. It should be noted that the Administration’s combined contribution to the Board of Education has increased by $42.4 million since Fiscal Year 2012, which includes the absorption of $9.1 million of BOE administrative services into the municipal budget.

Mayor Spano also announced that the Administration will look to convene a committee that will look to restructure City government and seek ways to share services within all city departments including the Board of Education.

“As the budgets in the upcoming fiscal years are forecasted to be more difficult than in previous years, we need to continue to be efficient and conscientious of the fiscal challenges the City faces and utilize necessary tools to keep expenditures in line during Fiscal Year 2018,” commented Mayor Spano.

Mayor Spano concluded, “I urge the City Council to build upon the spirit of cooperation that has passed five 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.”

 Budget Snapshot:

  • $1.14 billion total budget
  • Eliminates most vacant positions; does not contain any municipal layoffs
  • Proposes 0.27% increase in property tax levy (lowest in 20 years)
  • City of Yonkers stays within state mandated 2% tax cap
  • City provides largest contribution to Board of Education in the City’s history -- $539.5 million

The complete Fiscal Year 2018 Executive Budget can be downloaded at www.yonkersny.gov