City Manager Chuck Strome has proposed a budget for 2021. Despite the significant negative fiscal impacts of the COVID pandemic, the proposed budget maintains current service levels and adheres to the State property tax cap by drawing upon the City’s robust fund balance. The fund balance (essentially our savings account and rainy day fund) has grown across several years of strong economic performance, and it makes sense to utilize these dollars to cushion the blow of the COVID fiscal shock. But this is not a sustainable practice over the long-term, which is why federal aid for localities like New Rochelle remains a vital priority. Here’s the full budget proposal.
In the weeks ahead, the City Council will review the proposed budget carefully and consider potential amendments, with the goal of adopting a final budget in mid-December.