Under Fiscal Pressure, Yorktown Dips Into Unknown Reserves

FOR IMMEDIATE RELEASE

September 28, 2023

Under Fiscal Pressure, Yorktown Dips Into Unknown Reserves

Earlier this year, the Yorktown Town Board promised that no tax increase was possible in this year’s budget.

But, under pressure from the ‘A New Day for Yorktown’ slate, Supervisor Tom Diana announced that Yorktown would dip into reserves to avoid a tax increase: “If we didn’t have fund balance, we’d have to raise taxes 9%”, the Supervisor told residents at last week’s Town Board meeting. Supervisor Diana and the Town Board had previously called the 9% figure raised by the ‘A New Day for Yorktown’ slate “made up”.

When asked how much fund balance the Town had on hand, the Board told residents that they didn’t know and were auditing Yorktown’s finances. The Board indicated that in 2021, they had $22 million in fund balance.

If the Town Board has $22 million in fund balance, this would be over 30% of Yorktown’s budget - far in excess of prudent fiscal planning. The Town could have completed unfinished local projects over the last two years with this money, including the repairs at the police plaza, the Hallocks Mill sewer project or the long-stalled fluoridation project.

Jann Mirchandani said: “First, Tom Diana said the 9% tax increase didn’t exist. Then, on the floor of Town Hall, he said, word for word: ‘If we didn’t have fund balance, we’d have to raise taxes 9%.’ Tom says they’re spending fund balance, but he doesn’t know how much fund balance Yorktown has. The Board is playing a shell game with taxpayer money and the story keeps changing. Yorktown needs transparency, and Yorktown needs financially responsible leadership that gets projects done on time.”

Tom Marron said: “If Yorktown has $22 million in fund balance, then the Board has been financially mismanaging Yorktown: That would be over 30% of the Town’s $65 million budget. That money could have made a huge difference: The Board could have cut taxes or fixed police plaza back in 2021. To keep such a massive glut of money in reserves while our public facilities sit neglected shows that this Board only moves for political pressure.”

Steve Shaw said: “Tom Diana’s bragging that he’s fixing the police plaza, and in the same breath says it sat neglected for a decade - most of which he was in office for! He says the fluoride project is moving. He says the sewer project is moving. Now that the heat is on, he says things are getting done! We were talking about most of these projects in 2021 and 2019. The fund balance number they’re using is from 2021. I guess this board only moves when they’re up for election.”

This year, Election Day will fall on Tuesday, November 7th: This year’s election will determine who navigates a new garbage contract to replace Competitive Carting, who shepherds the Town’s capital projects over the finish line, and how Yorktown’s development projects move forwards.

Support is growing for a government that puts Yorktown first. Tom Diana and the Town Board are trying to cover up their mistakes with fast numbers and occasional movement on projects they stonewalled for years. Residents want open government, new ideas, and solutions - not excuses. A New Day for Yorktown stands ready with solutions.

Learn more about our slate at anewdayforyorktown.com.

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