Board Adopts $66.2M Budget, Stays Well Below Tax Cap

The Garden City Board of Trustees adopted a $66.2 million operating budget for 2020-21 following an April 28, 2020 public hearing via Zoom. Careful review of proposed Department spending plans and capital projects led to revisions following six budget work sessions held in March and April. The result is a spending plan that includes a tax levy revenue increase of 1.78 percent, well below the legal tax cap.

“Given the uncertainly surrounding the COVID-19 pandemic and the potential impacts to the Village’s finances in this upcoming fiscal year, this budget will be closely monitored with the intention to adjust plans at a future date as the Board deems necessary,” Village Treasurer Irene Woo said.

Village officials developed the spending plan with several operating principles in mind, including creating a tax cap compliant budget while continuing much needed infrastructure upgrades, equipment purchases and building improvements.

Mayor Theresa Trouvé and members of the Board of Trustees praised the work of many, including Village Treasurer and Deputy Treasurer Irene Woo and Darcia Palmer, who worked closely with the Department Heads, to bring this budget before the Board during such challenging times.

Five-Year Capital Plan Summary

The cost of capital projects for 2020-21 is $16.2 million, and $50.3 million for the five-year plan. The vast majority of the 2020-21 projects fall within investments in infrastructure ($4.4 million), including the continuation of the Village’s aggressive road paving program, equipment purchases for various departments and building improvements, including HVAC replacements at Village Hall and the Library, upgrade to the Children’s Room at the Library, roof replacements, brick repointing and St. Paul’s abatement.

To read more about the Village’s 2020-21 adopted General Fund operating budget, visit www.gardencityny.net and click on the Finance tab on the left side of the homepage.