Yonkers Mayor Mike Spano Proposes Fiscal Year 2019 Executive Budget
YONKERS, NY – April 13, 2018 – Yonkers Mayor Mike Spano today released his Fiscal Year 2019 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, reduces the size of government in order to conform to the property tax cap and increases its contribution to the Yonkers Board of Education.
“The Fiscal Year 2019 Budget I present to you today proves to a challenging one; one that is honest and lean while dealing with inherited structural problems, several years of zero increases in state aid, rising personnel and fringe costs and conforming to the state-mandated property tax cap.” said Mayor Spano.
The Executive Budget for the Fiscal Year 2019 is $1.15 billion, a decrease of $6 million from Fiscal Year 2018.
Municipal Operating Budget
The Executive Budget for the Fiscal Year 2019 includes a municipal operating budget of $567.3 million.
The Executive Budget stays within the state mandated tax cap with a proposed 1.64% increase in the property tax levy. The tax rate per thousand dollars of assessed value would increase by $15.71 an increase in the tax rate of 2.08%.
This is the seventh consecutive Executive Budget that proposes to stay within the state-mandated property tax cap. Under the proposal, a typical one-to-three family home at the median assessed value of $11,100 would see their annual property tax bill increase by $174, or approximately $15 per month.
Due to rising costs of the City’s workforce and limited state funding, despite increases in revenue, the 2019 Executive Budget proposes cuts to municipal services and its workforce, including 182 positions mostly through layoffs across 18 departments. The Budget uses all of the City’s fund balance and also eliminates all vacant positions.
The Municipal Operating Budget also includes a $5 million contribution of specialized state aid under the New York State Financial Restructuring Board for Local Governments. Mayor Spano’s Administration recommends that the Council opt in to this state incentive program which is available to offer financial assistance to eligible municipalities. The Board will make recommendations to Yonkers and to New York State on improving its fiscal stability, management and the delivery of public services. The $5 million grant would help offset otherwise devastating cuts to city services.
Yonkers Board of Education
The Executive Budget includes a record $547.7 million appropriation for the Board of Education.
The Yonkers Board of Education will again see an increase in funding and the City will increase its Maintenance of Effort (MOE) for the BOE, which includes additional revenue from sales tax which the Administration dedicates to education funding. Once again, this is the largest contribution to the BOE in the City’s history. Including Fiscal Year 2019, the Administration’s combined contribution to the Board of Education has increased by $149 million cumulatively since Fiscal Year 2012, which excludes the absorption of $9.1 million of BOE administrative services into the municipal budget.
Mayor Spano summarized, “The 2019 Executive Budget is one that was forecasted, and unfortunately, also has been ignored by New York State,” stated Mayor Spano. “It is time New York State addresses its discrepancies in funding and the burden they have placed on our local property taxpayers.”
Mayor Spano added, “My hope is that the 2019 Executive Budget is a basis for discussions and decisions that need to occur so that this proposed budget does not become the 2019 Adopted Budget. I am calling on our partners including the City Council and our union leaders to continue to build upon the spirit of cooperation that has passed six consecutive bipartisan budgets during my time in office.”
• $1.15 billion total budget
• Eliminates all vacant positions; contains elimination of 182 municipal positions
• Includes $5 million grant as part of New York State Financial Restructuring Board for Local Governments
• Proposes 1.64% increase in property tax levy
• City of Yonkers stays within state mandated 2% tax cap
• City increases its contribution to Yonkers Board of Education
The complete Fiscal Year 2019 Executive Budget can be downloaded at www.yonkersny.gov.