White Plains Council Adopts 2013-14 Budget
The White Plains Common Council passed the 2013-2014 City Operating Budget Thursday evening. The budget maintains service levels without lay-offs.
The General Fund Operating Budget totals $157.8 million. The property tax levy is $53.9 million, which is below the mandated New York State property tax levy cap. An appropriation of $5,100,000 from the City’s Contingency and Tax Stabilization Fund was used to reduce the property tax rate increase.
The major factor impacting the property tax rate increase is pension payments, which increased by $2.0 million, or 13 percent; 99.7 percent, or $7.25, of the property tax increase can be attributed to increases in pension payments.
The property tax rate is $191.74/$1,000 in assessed valuation, an increase of 3.9 percent (or $7.27 over the current tax rate of $184.47/$1,000). The median single family home will see an increase of $97.00/year in city property taxes.
In a press statement released at the time the budget was passed Mayor Roach said: “As we emerge from the worst financial conditions since the Great Depression we have worked diligently to right the financial ship. These efforts were recently recognized by Moody’s Investors Service when they reaffirmed the City’s favorable bond rating and revised the City’s financial outlook from negative to stable. The City continues to take a fiscally prudent and responsible approach in managing its operations. This budget contains no gimmicks or one-shots. We were able to trim expenses by identifying operating efficiencies and creative ways to provide services, and by carefully monitoring our expenses.”
Council President Beth Smayda said, “This budget continues the City’s conservative fiscal practices. The City will need to continue to look for operating efficiencies as it has over the last few years to ensure moderation in the property tax and provision of quality services.”
In addition to the General Fund Budget, the Council also adopted the Operating Budgets for the Library Fund (Thursday evening hours have been restored), Self-Insurance Fund, Water Fund, and Sewer Rent Fund and approved the budget for the Debt Service Fund and the City’s Business Improvement District (WP BID).
The City’s 2013-2019 Capital Improvement Program, which includes recommended projects for the 2013-2014 fiscal year, was adopted by the City’s Capital Projects Board and submitted to the Common Council in February 2013. That Program is incorporated into the City’s adopted budget.
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