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City of Yonkers Adopts 2018-2019 Budget

Post Date:06/14/2018 12:53 PM

Mayor's News

Yonkers, NY – June 13, 2018 -- Following weeks of budget hearings and public advocacy meetings, the City of Yonkers 2018-2019 Budget tonight was adopted with a 7-0 vote by the Yonkers City Council. The amended Adopted Budget submitted by Mayor Mike Spano includes $8.8 million in additional state aid, increased funding to the Yonkers School District and contains no cuts in services or layoffs and eliminates most vacant positions.

“After numerous discussions with our State leaders about the financial needs of our city, I was able to submit an amended budget to our City Council that contains additional funding to our schools and avoids layoffs. I thank Governor Andrew Cuomo and his staff for recognizing the discrepancies in funding to Yonkers and their help in restoring positions and services vital to our residents,” said Mayor Spano.

The City of Yonkers is increasing the Board of Education’s (BOE) operating budget to $582.6 million. On the municipal side, the Adopted 2018-2019 Budget maintains all departments and funds vital services. Tonight’s vote includes an increase in the property tax levy of 6.2%.  A typical one-to-three family home at the median assessed value of $11,200 would see their annual property tax bill increase by approximately $560, or $46 per month. The Municipal Operating Budget also includes a $5 million appropriation of specialized aid by the New York State Financial Restructuring Board for Local Governments. 

Mayor Spano commented, “We have reasonable expectations Yonkers will receive the maximum allowance granted under this program. We are most appreciative to the Board for considering Yonkers for the grant as it will help offset devastating cuts to city services.”

Mayor Spano added, “Clearly this year’s budget is a tough one, but by working together with our state and local leaders, we closed the gap avoiding any layoffs and cuts to the quality of life of our residents. Thank you again to the Governor, our State delegation and our City Council for investing in our city and recognizing the need to continue to move Yonkers forward.”   

Budget Snapshot:

•        $1.19 billion total budget 

•        Eliminates most vacant positions; does not contain any municipal layoffs 

•        Contains 6.2% increase in property tax levy 

•        Contains $8.8 million in additional state aid