The Newburgh City Council approved the Fiscal Year (FY) 2022 Budget on November 22, 2021. The adopted budget includes a tax levy under the New York State tax cap, along with tax rate reductions for homestead as well as non-homestead properties. This is the third consecutive year in a row the homestead tax rate has decreased, and the second consecutive year in a row non-homestead has decreased.
The $82.2 million budget, which goes into effect January 1, 2022, provides a balanced budget that includes $54.6 million in the general fund, the chief operating fund of the City, and allocates $27.6 million over the enterprise funds (Water. Sewer, Sanitation) and the Self-Insurance fund.
The 2022 budget promotes continued tax stability in the City of Newburgh. It builds on the success of the strategies implemented in FY2021 to withstand the economic impact of the COVID-19 pandemic while providing robust funding for critical infrastructure projects supported by an improved project management structure.
Consistent with the City’s Multiyear financial plan, the 2022 budget strategically utilizes fund balance to maintain high service levels, enhance quality of life, and increase code enforcement and public safety. The City will complete its’ parking expansion project in 2022, which sets to redo Broadway and meter the Water Front - further developing the non-property tax revenues reducing reliance on the tax levy.
In addition, it is worth noting that the New York State Comptroller has eliminated its fiscal stress score for the City during the fiscal year ending 2020. On a scale of 0 to 100, the City received the lowest and “best” possible score related to the amount of current or anticipated financial stress. 2020 is the second year in a row the City has received a stress score of 0.