BAD ECONOMIC NEWS IMPACTS TOWN
Release Date: July 29, 2009
I met with all department heads today to discuss the impact the economy is having on the town’s finances. We estimate that there will be a 10% reduction in sales tax revenues that will impact the 2010 budget. The loss of revenues is estimated to be about $600,000. We also anticipate a one million dollar shortfall in mortgage tax revenues. The comptroller’s office has advised the town that there is a 50% increase in retirement contributions (confirmed with the NYS Retirement System). The impact to unincorporated Greenburgh residents is $1,222,000. There will be a 10% increase in medical premiums --$603,000.
I have directed all department heads to come up with cuts or revenue enhancements to offset these shortfalls. In the coming months – leading to the adoption of a 2010 budget- members of the Town Board and I will hold numerous outreach meetings with members of the community to discuss the options. We are also trying to take a long term look at our projected future budgets. The goal: predictability and stability.
If you would like to host a neighborhood meeting with the Town Board, please advise. Your thoughts are welcome. Alan Hochberg, former President of the Poets Corner Civic Association, will be coordinating community outreach. He is also chairing the commission on fire consolidation.
Greenburgh Town Supervisor
Greenburgh: Named by MONEY MAGAZINE in 2008 as “ONE OF THE BEST PLACES TO LIVE” IN AMERICA (#80)
JOB E MAIL LIST---I am trying to help unemployed Greenburgh residents find work. If your company/business has any job openings please e mail me at email@example.com. If you are out of work and want to be advised of job openings please advise.