Yonkers Mayor Mike Spano released his Fiscal Year 2021 Executive Budget proposal, which stays within the property tax cap, contains no reductions in City services and, once again, provides its largest contribution to Yonkers Public Schools.
“This year’s Executive Budget is honest and lean given the uncertainties we are facing with the global pandemic, COVID-19,” said Mayor Spano.
“Although we face a new reality in regards to our economy, this budget preserves our city services and positions and continues to fully support our Yonkers schools.”
The Executive Budget for the Fiscal Year 2021 (FY21) for the combined City and Board of Education (BOE) General Funds is $1.24 billion, an increase of $17.8 million ($7 million for the City and $10.8 million for the BOE), or 1.46%.
Yonkers Board of Education
The Executive Budget includes a record $267.6 million appropriation to the Board of Education, the largest contribution provided by an Administration.
“I want to extend my thanks to our New York State delegation for restoring the $12 million in state education bullet aid,” commented Mayor Spano. “Despite this increased funding to our schools, there is still a significant shortfall of approximately $30 million in the Board of Education budget.”
Including FY21, the Administration’s combined contribution to the Board of Education has increased by $177.1 million cumulatively since Fiscal Year 2012, which excludes the absorption of approximately $10 million of BOE administrative services into the municipal budget.
For FY21, the transfer to education will go up by $2 million. Each year, the City funds the debt service and the District keeps the building, textbook, software and library aid reimbursements.
Municipal Operating Budget
Included in the Executive Budget is a municipal General Fund operating budget of $542.9million.
The Executive Budget stays within the state mandated tax cap with a proposed 2.08% increase in the property tax levy. Under the proposal, a typical one-to-three family home at the median assessed value of $11,000 would see their annual property tax bill increase by $268, or approximately $22 per month.
The 2021 Executive Budget does not propose cuts to municipal services or city workforce; does not add positions or fill vacancies; and includes essential health and safety capital projects for the city.
“This budget reflects our best estimates based upon the falloff in economically sensitive revenues that we have seen in the past month,” commented Mayor Spano. “The coming months may bring a heightening of that trend. In addition, the State has indicated its payments to localities may be adjusted downward during the fiscal year, which is a situation we have not previously encountered.”
Mayor Spano added, “My hope is that the 2021 Executive Budget is a basis for discussions and decisions. I am calling on our partners including our state delegation, the City Council and our union leaders to continue to build upon the spirit of cooperation that has passed eight consecutive bipartisan budgets during my time in office.”
Budget Snapshot:
• $1.24 billion total budget
• Maintains city services and municipal positions
• Proposes 2.08% increase in property tax levy City of Yonkers, staying within state mandated tax cap
• $267.6 million appropriation to the Board of Education, the largest contribution provided by an Administration
The complete Fiscal Year 2021 Executive Budget can be downloaded at www.yonkersny.gov.
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