Armonk NY Homes reports 2.8% North Castle Budget Increase
Dear Residents,
I write to give you some facts about the 2011 Tentative budget that I am proposing for the Town. The Town budget accounts for about 16% of our total property taxes.
I am presenting the 2011 Tentative budget (sometimes referred to as the Supervisor's budget) with a 2.84% increase, representing an increase of approximately $4.18 per $ 1,000 of assessed value, or about $100 annually based on $23,950 average assessed value.
I continue to be conservative in our budgeting, contemplating what the economic climate has in store for us for 2011.
In 2009 the Town Board adopted a fund balance policy stating we would maintain an unreserved/undesignated fund balance in the General Fund equal to between 10% and 20% of operating expenditures as presented then in the audited financial statements of the Town. At the beginning of 2010 our General fund balance (savings account) was 7.8%. By the end of 2010 the fund balance will be approximately 10% -- which is on the way to meeting our fund balance policy.
In the Tentative budget for 2011, I have included $250,000 to begin a funding mechanism for future capital projects which would allow for needed infrastructure improvements in our community.
The figures presented are working numbers as of October 29. The Town Board will continue to work on reducing the numbers as we continue through the budget process.
Some of you have asked about the timing for releasing proposed budget figures. New York State law governs the process, including the date requirements.
According to State law, the Supervisor presents a budget (Supervisor's Tentative), which must be filed with the Town Clerk by October 30. After the Town Board officially receives the Tentative budget (scheduled for November 9), it becomes the Preliminary budget. Then, by December 10 State law requires that a public hearing be held to discuss the Preliminary budget. The Town Board is required to adopt a Final budget by December 20.
Public hearings on the proposed budget will be scheduled for November 30 and December 15. The proposed budget is available for review on the Town website.
If you have questions about the proposed 2011 Town budget, contact me at supervisor@northcastleny.com I will be pleased to discuss any questions with you.
Supervisor William R. Weaver
Town of North Castle
15 Bedford Road
Armonk, New York 10504
Armonk NY Homes
Armonk NY Real Estate
I write to give you some facts about the 2011 Tentative budget that I am proposing for the Town. The Town budget accounts for about 16% of our total property taxes.
I am presenting the 2011 Tentative budget (sometimes referred to as the Supervisor's budget) with a 2.84% increase, representing an increase of approximately $4.18 per $ 1,000 of assessed value, or about $100 annually based on $23,950 average assessed value.
I continue to be conservative in our budgeting, contemplating what the economic climate has in store for us for 2011.
In 2009 the Town Board adopted a fund balance policy stating we would maintain an unreserved/undesignated fund balance in the General Fund equal to between 10% and 20% of operating expenditures as presented then in the audited financial statements of the Town. At the beginning of 2010 our General fund balance (savings account) was 7.8%. By the end of 2010 the fund balance will be approximately 10% -- which is on the way to meeting our fund balance policy.
In the Tentative budget for 2011, I have included $250,000 to begin a funding mechanism for future capital projects which would allow for needed infrastructure improvements in our community.
The figures presented are working numbers as of October 29. The Town Board will continue to work on reducing the numbers as we continue through the budget process.
Some of you have asked about the timing for releasing proposed budget figures. New York State law governs the process, including the date requirements.
According to State law, the Supervisor presents a budget (Supervisor's Tentative), which must be filed with the Town Clerk by October 30. After the Town Board officially receives the Tentative budget (scheduled for November 9), it becomes the Preliminary budget. Then, by December 10 State law requires that a public hearing be held to discuss the Preliminary budget. The Town Board is required to adopt a Final budget by December 20.
Public hearings on the proposed budget will be scheduled for November 30 and December 15. The proposed budget is available for review on the Town website.
If you have questions about the proposed 2011 Town budget, contact me at supervisor@northcastleny.com I will be pleased to discuss any questions with you.
Supervisor William R. Weaver
Town of North Castle
15 Bedford Road
Armonk, New York 10504
Armonk NY Homes
Armonk NY Real Estate
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