On November 6th, 2011, I attended the Fishkill town board meeting regarding the 2011 budget. I believe the following should interest Fishkill taxpayers. The Tax Rate increased from 1.26 for 2010 to 1.44 for 2011. A overall Tax Rate increase of 14.87% and a overall 45% Tax Rate increase for 2008, 2009, 2010 and 2011. Based on lower assessments, Fishkill claims it to be a Actual Value increase of 9.89%. Note that Fishkill used the Tax Rate, to claim tax decreases from 1997-2007.
Fishkill continues to transfer funds from water, sewer and lighting districts to the General Funds, to balance the budget. The Comptroller stated that the money owed to those districts is $3.3 million. The NYS Comptroller, in it's audit. Recomends against such practice. As Fishkill is unable to repay such funds, within the fiscal year as required.
Most important, is that Fishkill will continue to use Bond Anticipation Notes to balance the budget. For next year Fishkill will bond out $1.8 million, which is about 20% of Fishkill's 2011 budget. The interest on this, will add to the deficit, the amount of $66,000 a year. This also does not include the percent that is loaned from the above special districts. Thus, the percent loaned and or borrowed to balance the 2011 budget is greater that 20%. Councilman LaColla, indicated that the BAN may have to go up another million to $2.8 million.
I asked the Comptroller what the Tax Rate increase would be without the $1.8 million bond and he stated 45%.
Vote: Supervisor Pagones, Councilman Ferguson and Councilwoman Malvorosa YES. Councilman LaColla NO, Councilman Callahan excused for funeral.
As a side note, Judge Pagones, led a large clapping cheer in support of his wife, Supervisor Pagones. This is contrary to the law created by Supervisor Pagones, that makes clapping illegal at town board meetings.
No comments:
Post a Comment