Under the watch of City Comptroller Maureen Walker, the City of Mount Vernon generated a budget surplus of $7.7 million from operations for the year ended December 31, 2015. This is the twenty-first straight year the City has generated a budget surplus. Budget surpluses are used to minimize increases in the City tax rates.
Better than expected revenues combined with lower spending created the surplus. Actual revenue exceeded the adjusted budgeted revenue by $5,257,656 and actual expenditures came in $2,385,935 below revised appropriations. Among the revenue highlights, the City generated favorable variances in the following areas:
Real property taxes $1,060,696, Building permits $301,300, Sales taxes $877,626, State aid $746,478, Insurance Recoveries $188,476, Cable Television Franchise Taxes $119,455 and Real Estate Transfer Taxes $663,629.
In 2015 some revenues had unfavorable variances in the following areas: Fines and forfeitures $434,114, Gain on Sale of Tax Acquired Property $810,232.
Actual expenditures came in $2,385,935 below revised appropriations. Among the highlights, the City experienced favorable variances in the following areas: General Government Support $1,861,468, Public Safety $169,025, all others combined $355,442.
According to Comptroller Maureen Walker, “despite the uncertain economic climate, Mount Vernon continues to manage its finances in a fiscally responsible manner.
AJ Woodson
AJ Woodson is the Editor-In-Chief of Black Westchester and Co-Owner of Urban Soul Media Group, the parent company, Host & Producer of the People Before Politics Radio Show. AJ is a Father, Brother, An Author, Journalism Fellow (Craig Newmark Graduate School of Journalism), Hip-Hop Artist - one third of the legendary underground rap group JVC FORCE known for the single Strong Island, Radio Personality, Hip-Hop Historian, Documentarian, Activist, Criminal Justice Advocate and Freelance Journalist whose byline has appeared in several print publications and online sites including The Source, Vibe, the Village Voice, Upscale, Sonicnet.com, Launch.com, Rolling Out Newspaper, Daily Challenge Newspaper, Spiritual Minded Magazine, Word Up! Magazine, On The Go Magazine and several others.
2 comments
This is proof that for 21 years the residents of Mount Vernon have been cheated out of their full city services they are rightfully entitled to. The surplus funds should be used immediately to repair our crumbling infrastructure and in November elect leadership that is capable of accomplishing such.
This is proof that for 21 years the residents of Mount Vernon have been denied the full city services they are rightfully entitled to. The surplus funds should be used immediately to repair our infrastructure including and in November elect leadership that is capable of accomplishing such.
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