Officials said that the proposed budget includes investments in public safety, an update to the city’s 10-year capital plan - the largest infrastructure in New Rochelle history, - plans for economic developments, technology improvements and a “robust fund balance” exceeding $15 million which “will help stabilize future budgets and protect (the city’s) bond rating,” according to officials.
The proposed budget represents a 2.03 percent tax levy increase, the max allowable under the state tax cap. It represents an estimated $73 annual increase - or 20 cents a day - for taxpayers.
“The proposed budget is a responsible financial plan that includes funding for the further restoration of public safety services and a continued robust investment in the City’s infrastructure, while maintaining an adequate rainy day fund in accordance with the goals of the city’s new Fund Balance Policy,” Strome stated.
“Despite the limitations of the tax cap legislation, the City continues to enhance services and fund capital projects at a minimal cost increase to taxpayers.”
The capital plan spans 10 years at a cost of $109.6 million with an additional $15 million slated to make infrastructure improvements throughout the city.
“As the revitalization of our city continues, the need for adequate city resources will likewise grow. A prudent and cautious approach that recognizes and keeps pace with this demand will enable us to restore and maintain our extraordinary level of service to our citizens,” Strome added. “This budget provides the framework for achieving that goal.”
The complete, detailed budget can be reviewed online.
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