On April 15, Yonkers Mayor Mike Spano released his Fiscal Year 2023 Executive Budget proposal, which contains no cuts in positions or City services, increases funding for more police officers, continues to provide its largest contribution to Yonkers Public Schools and stays within the state-mandated tax cap.
Mayor Spano stated, “Yonkers, now the third largest city in New York State, weathered the effects of a global pandemic better than expected largely due to the city’s uniquely diverse workforce; its growing population because of its booming economic development; increased e-commerce sales; and direct federal stimulus aid to residents.”
“The City’s ability to remain successful over the last decade is due in part to the Administration’s fiscal responsibility and frugal spending,” added Mayor Spano. “While we stay on track, we also must prepare and budget for our future given current increases in health insurance and energy costs, inflation rates and expired union contracts.”
Executive Budget Overview:
The Executive Budget for the Fiscal Year 2023 for the combined City and Board of Education (BOE) General Funds is $1.36 billion, an increase of $116.6 million or 9.32%.
Yonkers Board of Education
The Executive Budget includes a record $680.7 million appropriation for the Board of Education, the largest ever budgeted by an Administration.
Mayor Spano added, “I want to extend my thanks to our New York State Yonkers delegation for committing to deliver the long overdue phase-in of foundation aid over the next two years that is owed to Yonkers, with Yonkers Public Schools receiving $11 million this year. While this helps our District for now, we need to continue to lobby New York to address the systematic funding inequities in the current State formula that effect Yonkers students each year.”
For FY23, the Maintenance of Effort contribution to education will go up by $5.7 million. The Administration’s contribution to the Maintenance of Effort has increased 25% annually and 136% cumulatively since 2012.
Municipal Operating Budget
Included in the Executive Budget is a municipal General Fund operating budget of $687 million. General Fund Departmental Expenditures are budgeted at $310 million.
The Executive Budget stays within the state mandated tax cap with a proposed 2.93% increase in the property tax levy. Under the proposal, a typical one-to-three family home at the median assessed value of $10,900 would see their annual property tax bill increase by $238.93, or approximately $19.90 per month.
The 2023 Executive Budget does not propose cuts to municipal services or city workforce; adds 10 new police officers to the roster; permanently funds Juneteenth as a City holiday; and includes capital investments for Yonkers Public Schools and funds a new police and fire training facility.
Mayor Spano added, “My hope is that the 2023 Executive Budget is a basis for discussions and decisions. I ask our City Council members to continue to build upon the spirit of cooperation that has passed ten consecutive bipartisan budgets during my time in office.”
Budget Snapshot:
• $1.36 billion total budget
• Proposes increase in property tax levy of 2.93%, staying within state-mandated tax cap
• Maintains city services and municipal positions, adding positions and capital improvements to support public safety
• $680.6 million appropriation for the Board of Education, the largest ever budgeted by an Administration.
• Permanently funds Juneteenth as a City holiday
The complete Fiscal Year 2023 Executive Budget can be downloaded at www.yonkersny.gov.
