FOR IMMEDIATE RELEASE: November 2, 2017
MEDIA CONTACTS: Carole Trottere, Rebecca Cheng, Sam Marksheid, and Vicki DiStefano | (516) 869-7794
Town’s 2018 Fiscally Conservative Budget Approved before Election Day
Decrease in General Fund Budget driven by lower debt; Services for residents maintained
North Hempstead, NY – North Hempstead Town Supervisor Judi Bosworth and Town Board members approved the Town’s 2018 budget last night, with a bi-partisan vote of 6 to 1. The $103 million budget (General Fund and Town Outside Village Fund) is a balanced and fiscally conservative plan that stays under the 1.84% New York State tax cap. The Town’s Solid Waste Management Authority’s (SWMA) $16 million budget passed unanimously.
“This budget protects the wallets of North Hempstead’s taxpayers, while continuing to provide essential services for our residents,” said Supervisor Bosworth. “The Town has lowered its debt by $32 million since 2013. The General Fund expenses have been reduced by approximately $300,000 from the 2017 budget. For four consecutive years we have presented sensible budgets and this has been applauded by Moody’s Investors Service when they upgraded the Town this year to a Aaa bond rating, the highest rating possible for a municipality and the only town in Nassau County to achieve this.’”
The Town’s 2018 budget includes $66.9 million of General Fund spending, less than in 2017. Employee headcount is down by two. Conservatively estimated revenues in the general fund budget include $24.4 million in property taxes, the largest single source of revenue; sales tax at $11.5 million; mortgage tax at $8 million; and fees, among other sources. Although the General Fund tax levy is lower than in 2017, the average resident will see a $2.95 increase in tax due to a technical change concerning LIPA properties.
The Town Outside Village (TOV) Fund budget for 2018 is $36.4 million. There is a 1.84% increase in expenses. The TOV budget includes funding for additional personnel for the Building Department, funded through fee increases approved by the Town Board in 2017. The increase in staff will reduce wait time for plan review and help expedite the permitting process. Overall, the TOV fund is adding 10 personnel, seven of which are in the Building Department and three in the Highway Department. For residents living in the unincorporated areas of the Town, the property tax will increase by $28.40 for the average household.
The expenses for the 20 Town-operated special districts in the 2018 budget total $26 million. The Town-operated special districts include districts covering services such as fire, garbage, parks, parking, lighting, sidewalks and water.
The 2018 adopted budget is available to view at: http://www.northhempstead.com/ToNH-Budgets