The Yonkers City Council and Council President Lakisha Collins-Bellamy, pictured above, has begun their public hearings on the Fiscal Year 2025 budget
By Dan Murphy
The Yonkers City Council has begun their budget review of Mayor Mike Spano’s budget proposal for fiscal year 2025.
Spano’s budget plan calls for total spending of $1.46 billion and a property tax levy increase of 5.2%.
The Finance Department and Budget office took the council through the budget. “We all knew that Fiscal Year was going to be a challening year. The Mayor showed a strong committment to the schools to help mitigate the loss of federal funding in the budget,” said Finance staff.
The proposed budget will exceed the property tax cap by $11.3 Million. Because the budget is over the cap, 5 council votes would be required to adopt a budget.
The proposed budget also uses $63 Million in fund balance-surplus.
Each department in City Hall will now come before the council and review their individual budgets.
The big council budget meeting will come when they review the Yonkers Public Schools proposed budget for the upcoming 2024-25 school year.
Even with the Mayor’s additional proposed contributions to the YPS, “there is a huge deficit in the Board of Education budget,” said Finance Commissoner John Liszewski.
What the YPS budget hole has not been made public, but is expected to be around $40 Million. Many of the staff that YPS was able to hire from the federal COVID funds, are in danger of being cut.
There are councilmembers who would like to see more education funding for YPS. But with a 5.27% propoerty tax increase already proposed, additional property taxes seem to be out of the queston.
There are also councilmembers who might want to cut the proposed tax increase.
Look for parents, students and educators to come to the council for more funding.
Councilman Anthony Merante asked if homeowners will lose their STAR property tax credit if the City goes over the budget, as happened a few years ago. The answer was no, homeowners will not lose their STAR tax relief.
Council President Lakisha Collins-Bellamy how the budget will impact homeowners. The average home in Yonkers would see their property taxes go up by $40 per month, or $480 per year.
New York State government has completed its budget process, but will be returning for a final month before summer recess. Additoinal funding coming from Albany are not expected.
Also unclear is whether there are five council votes to adopt the budget as is, and over the tax cap.
The two republicans on the council, Minority Leader Mike Breen and Councilman Merante, are inclined to lower the property tax increase before voting yes.
And, Council demcorats might be looking for additional funding for YPS before voting yes.
The deadline to adopt a budet is July 1.
