BY TOM MCDERMOTT
The City Council adopted the 2022 Budget at its final meeting of the year, December 15. General Fund Expenditures are $45,918,950. General Fund Revenues, other than property taxes are $14,274,326; the Property Tax Levy will be $27,192,174 – 58% of total revenue – with an Appropriated Fund Balance of $4,452,450. The tax rate is $190.85 per $1,000 of assessed value, a tax cap-compliant 1.58 % increase.
Notable expected increases in revenue come from sales tax, $700,000, and mortgage taxes, $800,000. On the expense side, salaries and benefits comprise 62% of expenses, with 2022 salaries rising by $842,000, as the City projects 163 full-time staff, versus a lean 143 in 2021, which was due to retirements and unfilled positions.
In capital spending, residents will be pleased to learn that $1,850,000 will be spent on further street resurfacing and the City is establishing a Vehicle Replacement Program with an initial funding of $2,000,000. The City’s contribution to the Rye Free Reading Room of $1,335,000 was approved in a separate vote, a slight increase from 2021.
Prior to the adoption of the Budget, Mayor Cohn presented a post-IDA update, at the end of which newly elected Councilman Josh Nathan asked City Manager Greg Usry if there was a sense of what consulting fees related to flood mitigation might be. Mayor Cohn responded, “Not yet, but we have a second round of meetings with consultants and there is no reason to believe we will be outside of available funds.”
