Village of Hastings-on-Hudson Alerts
Village of Hastings-on-Hudson Manager,Mary Beth Murphy: Proposed 2025-2026 Village Manager's Budget
February 18, 2025
Dear Mayor Armacost, Trustee Fleisig, Trustee Drake, Trustee Alligood and Trustee Merton:
Submitted herewith for the Board of Trustees’ examination and consideration is the 2025-2026 Village Manager’s proposed General Fund budget for operations that totals $19,310,812 which reflects a $54,094 decrease in appropriations. At this spending level, a tax rate of $5.32 is required, which when compared to the current year’s budget represents a -$0.25 tax rate decrease, reflecting a 4.5% decrease in the tax rate. The tax levy is increased by 4% as compared with a tax levy increase in 2024-2025 of 5.3%. This levy is compliant with the state law that establishes the maximum tax levy that may be budgeted without the need to seek override. A levy of $13,336,282 is the maximum allowable levy to remain compliant with the tax cap. The levy proposed in this budget is $13,303,967. That is $32,315 less than the allowable limit. The budget uses the net assessed values established by the Town of Greenburgh in the amount of $2,499,740,709. This reflects a growth of 9%. This assessed value may change prior to the issuance of the tax bill based of changes made to the assessment roll by the Greenburgh assessor due the Small Claims and Certiorari Settlements or removed exemptions.
The operational budget does not include the grant funding the Village continues to aggressively pursue for projects to promote sustainability, construct stormwater improvements, improve parks, create sidewalks, and other projects to enhance the quality of life in the Village. It also does not include capital purchases such as vehicles and machinery. These capital projects and equipment are contained in a separate Five-Year Capital Plan that has also been presented to the Board.
The budget was created over the last several months through a process involving input from all Village Departments, analysis of financial data from the current and prior fiscal years, discussions with department heads, the Village Clerk/Treasurer and Deputy Treasurer, and input from consultants and service providers.
The General Fund budget includes the Village funding of the cost of Library operations in the amount of $1,184,392. The functional breakdown of the appropriations and revenues for the proposed Fiscal Year 2025-2026 budget is contained in a series of exhibits in the complete budget document. It contains an increase in both appropriations and revenues resulting in a balanced budget with a 4.5% decrease in the tax rate.
Revenues
The proposed budget offers a projection of what the Village can expect to receive from State, County, and locally generated revenues. Most revenue streams are at 2024-2025 levels; however, the budget does reflect an increase in interest earnings on Village funds. Mortgage tax revenue projections have been decreased to reflect recent actuals and market activity.
The Village’s outside independent auditor has affirmed the Unassigned Fund Balance as of May 31, 2024, at $5,090,920, which equals 26% of the total General Fund expenditures. This remains in compliance with the Village’s Fund Balance Policy. The Capital Plan proposes to assign some of the Unassigned Fund Balance to Assigned Capital Fund Balance and Assigned Parks Capital Fund Balance, reducing the Unassigned Fund Balance by $900,000 and $325,000 respectively. This will reduce the percentage of Unassigned Fund Balance to 20% of General Fund expenditures. This healthy Unassigned Fund Balance will allow the Village to manage the expenditures required for the many reimbursement grants that we have been fortunate to receive.
Appropriations
The budget reflects an effort to analyze and project expenses and revenues on a realistic basis. The Village municipal employees are a dedicated group of hard-working individuals, many of whom have worked for the Village for decades with institutional knowledge that is invaluable. The budget is designed to provide them with the tools and resources that they need to perform their jobs well.
The budget maintains staffing at the current level in all departments and provides for new recruitment to replace any separated or retiring employees. Salary increases pursuant to the terms of the collective bargaining agreements for the Police Benevolent Association and Teamsters are reflected in the budget. Non-represented employees’ salary increases have been included in the budget as well.
The budget includes funding for parks and recreation programs, fire department and ambulance needs, police protection, engineering assistance, grant writing and administration, general government services, storm and sanitary sewer maintenance, and street maintenance. A new line has been created in DPW Maintenance of Streets for paving and curbing. This appropriations line has been created to begin to balance the consolidated highway aid that is recorded in the revenue portion of the operational budget against an expenditure in the appropriations portion of the budget. Additional curbing and paving funds are currently also contained in the Capital Plan, increasing the available funds for this purpose.
Sincere gratitude is extended to the Village department heads for their conscientious attention to the preparation of their operating budgets and especially to the Village Clerk/Treasurer and Deputy Treasurer/Technology Director for their diligent efforts throughout the budget process. The team looks forward to presenting this budget during scheduled budget work sessions and the public hearing to be scheduled for March 18, 2025. We look forward to the examination by the Board of Trustees leading to the adoption of the budget.
Very truly yours,
Mary Beth Murphy
Village Manager
villagemanager@hohny.gov
