ADOPT 2020-2021 BUDGET

Resolution #12-2020 — 2020-04-16

WHEREAS

THE VILLAGE BOARD HAS RECEIVED AND REVIEWED THE TENTATIVE BUDGET AND HELD A PUBLIC HEARING ON SAME
FUNDING LINES AND EXPENSE LINES HAVE BEEN DEVELOPED, REVIEWED AND ESTABLISHED IN BOARD WORKSHOP MEETINGS TO REFLECT INCOME PROJECTIONS AND EXPENSES FROM TRENDING AND HISTORY
SINCE THE PRESENTATION OF THE TENTATIVE BUDGET THERE HAVE BEEN SIGNIFICANT NEGATIVE STATE, NATIONAL AND INTERNATIONAL ECONOMIC DEVELOPMENTS THAT ARE NOT POSSIBLE TO TREND OR ESTABLISH AT THIS POINT IN TIME
THESE DEVELOPMENTS MAY REQUIRE FORMAL EDITS TO THE BUDGET AND OPERATIONS IN THE NEXT FISCAL YEAR
THE VILLAGE'S BUDGET HAS THREE BUDGET AREAS: GENERAL FUND; WATER BUDGET AND SEWER BUDGET

THE RESULTING GENERAL FUND BUDGET WILL BE WITHIN THE NYS COMPTROLLER FORMULA FOR THE TAX CAP AND BE A REDUCTION IN THE TAX RATE. THE GENERAL FUND BUDGET WILL BE $2,217,960
THE WATER FUND BUDGET AND THE SEWER FUND BUDGET WILL REMAIN AS LISTED IN THE TENTATIVE BUDGETS, WATER $532,300 WITHOUT ANY LINE ITEM CHANGES AND SEWER AT $49,500 WITHOUT ANY CHANGES
THOSE GENERAL FUND, WATER FUND AND SEWER FUND BUDGETS ARE HEREBY ADOPTED WITH THE TREASURER TO BE FULLY ADVISED AND AUTHORIZED TO PROCEED ACCORDINGLY