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March 14, 2013

Village begins budget work

(Continued)

The board has tentatively agreed to raise taxes to the state mandated 2 percent tax cap. A public hearing is set for the monthly meeting on March 25 to discuss whether the board should vote to increase the 2 percent cap to account for emergencies, as it did in 2012.

With spring break falling that week, Katz said he isn’t sure the move will have the votes; he is also unsure if the board will need to exceed the cap, but said that personally he likes to do it to be prepared for emergencies. In early meetings, it looked like the budget would balance without raising the cap.

“I am pretty sure Lynn, Cindy (Falk) and Walt (Franck) are all going to be away that week,” he said. “So the rest of us, Ellen (Tillapaugh) Jim (Dean), Frank (Cappoza) and myself would have to agree. I am not sure if that would happen. Jim voted against it last year.”

A final preliminary meeting is scheduled for 4:30 p.m. today. Katz said he expects the board will be able to make the final cuts needed in order to keep everything at 2012 levels.

“Our goal would be to be as close to unchanged as possible,” he told board members on Monday.

But while the final numbers will be similar, lots has changed.

“We’re not taking any money out of surplus,” he said. “This year we are actually going back to moving money into reserves to begin the process of refurbishing the reserves.”

 

 

 

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