BRIARCLIFF MANOR, N.Y. Briarcliff Manor recently passed the six-month mark in its budget cycle, and Philip Zegarelli says its becoming clear that were not out of a recession yet.
The village manager gave a presentation to the villages board of trustees Wednesday night that detailed the villages budget outlook for the year. Figures presented showed the village has spent roughly $7.8 million of its $14.5 million budget thus far into the year. While village officials estimated earning roughly $1.06 million in sales tax through the year, Zegarelli said the village has made about $252,000 through six months and its unlikely the number will quickly improve by the end of the year.
Together with the mortgage tax, this is a very good indicator of where the economy is, Zegarelli said. And to see the sales tax lag even after weve cut back (on our estimations) indicates to me that this recession is not over.
Zegarelli noted that its still likely the village would not exceed its budget this year.
A lot of communities have predicted a turnaround by now but that hasnt occurred, Zegarelli said, adding that the December numbers were very weak. Were going to hold the line (next year). Its not that were going to be in a hole, I dont think, but I was hoping there would be a little rebound and it hasnt showed up yet.
It may be too early to predict what changes might be needed to meet budget requirements for next year, Zegarelli said. While there are extenuating circumstances, the New York State property tax cap limits rate hikes to 2 percent.
We will be putting to you a budget that I believe will come under the 2 percent cap, Zegarelli told the board Wednesday. I want you to know ahead of time its tight from day one.
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