2024 Budget Question and Answers
The Preliminary Budget, which was posted to the website on September 19th (PDF Document Link), details every revenue line in each fund.
Most of the increase in revenue is anticipated in our share of sales tax distribution which was increased by $580,000 over the 2023 budget. This increase is based on a 3-year average and in consideration of anticipated economic conditions. The balance of the increase is estimated in interest earnings and departmental income.
As noted, the Town has several projects identified to be funded from General Fund Balance, ARPA, and NYS grants. At the end of 2022, within the General Fund Balance $2.2 million was unassigned. Of that, $237,092 has been appropriated via Board resolutions to the 2023 budget throughout the year for equipment. Of the $3,825,732 in State & Local Fiscal Recovery Funds distributed under the American Rescue Plan Act (ARPA), there is $559,000 that the Town Board has not earmarked yet. As the projects previously identified, including the infrastructure at the Shadow Pines property, have yet to be publicly bid, the Board is waiting to target additional projects. The Town has been awarded grants in the past year to aid in funding several important projects including: the remediation of Allens Creek, $250,000, the installation of pickleball courts, $350,000; the construction of the Columbus Crossing restroom, $205,650; and new sidewalk installation in the Willow Pond neighborhood, $65,000. All of these grants are reimbursement-based grants so the funds are received when the projects are completed.
We have a continuously evolving Capital Improvement Plan (CIP) that is reviewed and updated periodically as community priorities and needs change. This document is a guide for long-range planning and capital investment with estimated timeframes, costs, and potential funding source(s). (PDF Document LINK)