Dear Fellow Croton Residents:
Did you know that all the pundits, experts and economists alike state that we have been in a recession for over a year now? Combine that with lower state sales tax revenue, declining mortgage tax income, reduced County revenue sharing and a few court decisions granting lower assessments to several property owners due to poor planning before the Schmidt Administration took control and you might agree with the spin from our opponents that Croton was in sad financial straits!
Nothing could be further from the truth! In spite of these obstacles, our administration’s wise and cautious stewardship resulted in steady tax reductions in 3 of the last 4 years when we were in the majority! (In the year that our opponents held the majority, they actually spent slightly more than the tentative budget called for.) Currently, through extraordinary financial management, we have a healthy $3.75 million surplus (that’s 26% of our operating budget) which can be used to minimize tax increases in the upcoming fiscal 2009-2010 budget. In addition to other monetary controls, we have deferred some capital expenses until other loans expire to prevent overlapping expenditures. The bottom line is that through prudent fiscal management, we are in great shape financially and our credit rating is excellent.
All of us are impacted adversely if taxes increase! We don’t want that any more than you and are committed to assuring that your tax dollars are well accounted for while maintaining the best quality of life. We remain positive about Village’s prospects now and for the future.
— Mayor Greg Schmidt, Trustee Susan Konig, Trustee Tom Brennan