Cortlandt Weathering Storms with Ample Fund Balance
The winter season has been a difficult and costly one for municipalities. The Town of Cortlandt has not been able to escape the brunt of the storms, but, unlike others, it has managed to withstand the financial onslaught by having a healthy “rainy day” fund.
“We have saved funds in our highway accounts for these types of emergencies,” Supervisor Linda Puglisi stated in a community bulletin. “We have been able to pay in cash without any borrowing or bonding. Other towns in the region have been faced with having to borrow.”
From December 2013 to this month, Cortlandt has been hit with 20 major snow and ice storms. Its expenses related to keeping 688 town roads safe and passable has reached $1.2 million.
“It’s just obscene,” Town Comptroller Glenn Cestaro remarked about the winter barrage.
Based on expenses from past winters, Cestaro said Cortlandt budgeted $700,000 for storm expenses for 2014. However, in less than two months, he said the town has “easily” spent approximately $900,000, with more snow in the forecast later this week and the beginning of next winter still on the horizon.
Fortunately, Cortlandt has about $2 million in undesignated highway funds that it can tap into to help weather the storms.
“We’re still in good shape,” Cestaro said. “It’s been at least 10 years since we’ve had these kinds of storms. Two years ago we had very little snow.”
Cortlandt has also managed to keep up its salt supply despite a regional shortage. The town’s salt dome holds 4,000 tons. A recent 1,000 ton order cost Cortlandt $57,000, Cestaro noted.
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