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Finance

Posted on: November 8, 2019

2020 Proposed Budget Released

New Rochelle City Manager Charles Strome III today released his proposed budget for Fiscal Year 2020.  The $213.0 million budget preserves and enhances essential services and reflects a continued investment in the City’s infrastructure. The proposed tax levy increase is 2.13%, the maximum allowable under the New York State tax cap legislation. The proposed tax increase for the average homeowner is $105 and equates to 30 cents per day.

“The proposed budget is a responsible financial plan that further restores public safety services,  invests in the City’s infrastructure, and maintains a healthy fund balance- all at a minimal cost increase to taxpayers,” said Strome.

The ten-year capital plan has been updated as a result of a comprehensive and strategic review of the City’s infrastructure and capital assets. This is the fourth year of the plan and includes Complete Streets projects, sanitary sewer repairs and replacements, many parks and environmental projects, street improvements, facility improvements and an investment in public safety technology. “This continued multi-year investment will benefit our City as a whole, and improve the quality of life for both businesses and residents,” Strome noted.

In addition to the capital program investment, union contractual obligations for employee salaries and health insurance increases account for the remainder of the rise in expenses included in the proposed budget. These increases will be funded by tax revenue, fees, grant funding and anticipated increases in one-time revenue streams generated from the City’s development program.

“As New Rochelle and the surrounding region grows and develops, resources must keep pace to support our strong level of service delivery,” concluded Strome. “This budget represents a prudent and cautious approach to maintaining that adequacy.”

Copies of the proposed budget are available in the City Clerk’s office, at the New Rochelle Public Library and on the City’s website www.newrochelleny.com.  The City Council will conduct budget review meetings in November and December and hold a public hearing on December 10th in advance of the adoption of a tax rate in December.

2020 Proposed Budget
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