By Angela Marshall
I just don't think this village should have tax increases double the CPI, said one member.
Deputy Mayor Wayne Lipton and Michael Schussheim, village comptroller and acting administrator, defended the hike, saying some increases are not optional.
Health insurance, which is expected to increase 11 percent or $212,000, is mandated by the state.
Schussheim said he had all department managers try removing five percent from their budgets, but said the result was not feasible.
There really is no room to cut without hitting bone, Schussheim said.
Revenues also took a hit. Projected interest earnings, which decreased following the Sept. 11 attacks, are down $130,000.
The overall dollar increase in the budget is $1,102,339, a 4.5 percent increase. The tax-rate increase is higher than the budget increase because of the continuing decrease in the net assessed valuation of village property, down this year by more than $368,071 but less than one percent.
The increase raises the tax rate $1.08 to $23 per $100 of net assessed valuation. The average homeowner with an $7,700 assessment will pay an extra $83, up to $1,771 in village taxes.
Just over 60 percent of budget revenues are raised from taxes; most of the rest comes from other sources, including transfers from the water and electric departments to cover the salaries of utility workers and for payments in lieu of taxes.
Schussheim said no programs were cut.
The budget contains some increases in services, which board members say residents want. Senior services are expected to go up six percent or $27,334 for a total program budget of $$490,910. The recreation budget reflects a three percent increase or $27,688 for a total program budget of $999,057. The celebrations line is up 14 percent or $5,000 for a total program budget of $40,000.
The budget contains a 65 percent decrease in police retirement funds, dropping from $371,000 to $130,000. However, much of the $241,000 difference will still be paid by taxpayers. The village decided to take out a $1.8 million bond to fund police retirements last year because the department was aging. The bond, which has a 5.25 percent net interest charge, is for 10 years.
A public hearing on the budget will be held at Village Hall, One College Place and Clinton Avenue, on Thursday, April 11 at 8 p.m. Copies of the budget are available for review at the Village Hall.
