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Yonkers Mayor Mike Spano Proposes Fiscal Year 2020 Executive Budget

Post Date:04/15/2019 4:35 PM
Mayor's News

YONKERS, NY – April 15, 2019 – Yonkers Mayor Mike Spano today released his Fiscal Year 2020 Executive Budget proposal, which stays within the property tax cap and contains no reductions in City services.  The budget also contains a record $12.1 million increase in the City’s contribution to the school district.

Despite this record increase in the City’s School funding, the School District still anticipates a $17.6 million shortfall, as Yonkers continues to receive far less school funding from the state government than the other large cities.

Mayor Spano said that while he is grateful for the additional school funding contained in the recently-passed State budget, a large gap still exists.

“My proposed Executive Budget literally takes every spare penny we have and sends it to the schools, but there is still a significant gap,” said Mayor Spano. “It is critical that the State finishes the job of funding Yonkers Schools fairly.”

The Executive Budget for the Fiscal Year 2020 for the combined City and Board of Education (BOE) General Funds is $1.151 billion, an increase of $37.6 million ($6.7 million for the City and $30.8 million for the BOE), or 3.38%. 

Yonkers Board of Education

The Executive Budget includes a record $265.5 million appropriation to the Board of Education, the largest contribution ever provided by an Administration.

This year, the Yonkers Board of Education will see a historic investment in funding from the City. The Executive Budget includes a $12.1 million increase in the Maintenance of Effort transfer to the Board of Education; a 5.3% increase.  This amount includes $467,000 in additional revenue from sales tax which the Administration dedicates to education funding. Including FY20, the Administration’s combined contribution to the Board of Education has increased by $139 million cumulatively since Fiscal Year 2012, which excludes the absorption of $9.1 million of BOE administrative services into the municipal budget.

Municipal Operating Budget

Included in the Executive Budget is a municipal General Fund operating budget of $541.3 million.

The Executive Budget stays within the state mandated tax cap with a proposed 2.5% increase in the property tax levy. This is the seventh consecutive Executive Budget that proposes to stay within the state-mandated property tax cap, preserving the State Tax Relief Credit for homeowners. As a result, depending on the household income level, Yonkers residents can expect to receive $724 to $1,026 in tax credit relief.

The 2020 Executive Budget does not propose cuts to municipal services and its workforce. The Budget provides for more efficiencies and savings through reorganization efforts. It also proposes to better staff critical needs, including the Department of Housing & Buildings, which must address record development as well as improved inspection of older properties, and the Water Department, which must address an aged infrastructure that threatens delivery of services to our residents. In both of these cases increased staffing will be offset by revenues or accumulated fund balances.

Mayor Spano added, “My hope is that the 2020 Executive Budget is a basis for discussions and decisions. I am calling on our partners including our state delegation, the City Council and our union leaders to continue to build upon the spirit of cooperation that has passed seven consecutive bipartisan budgets during my time in office.”

Budget Snapshot:

•        $1.151 billion total budget

•        Includes largest increase in aid in city history to Yonkers Board of Education with $12.1 million

•        Maintains city services and municipal positions

•        Proposes 2.5% increase in property tax levy City of Yonkers, staying within state mandated tax cap; preserves the State Tax Relief Credit for homeowners, resulting in Yonkers residents receiving $724 to $1,026 in tax credit relief, depending on household income level

The complete Fiscal Year 2020 Executive Budget can be downloaded at www.yonkersny.gov.