Category Archives: Budget & Finance

City Finances in Solid Shape

New Rochelle’s Comprehensive Annual Financial Report, which was just released and presented to the City Council by our independent auditors, shows the City government to be in good fiscal health. At the same time, New Rochelle — like most cities — still confronts long-term fiscal pressures that will require responsible management and priority-setting.  Here’s a … Continue reading City Finances in Solid Shape

Ochs for Board of Ed, Yes for Schools – Vote May 15th

On Tuesday, May 15th, the people of New Rochelle will make an important decision about the future of our children and community.  I urge you to vote Yes on the School Budget and to support Julia Muggia Ochs for the Board of Education. Yes for Schools There are at least three ways to look at … Continue reading Ochs for Board of Ed, Yes for Schools – Vote May 15th

State of the City 2018

I just finished delivering my 2018 State of the City Address to an overflow audience at City Hall. My remarks confronted head-on the important and timely challenge of youth safety and enrichment, but also offered an expansive and very positive assessment of our community’s dramatic progress on economic, environmental, and social priorities.  Despite the pressing … Continue reading State of the City 2018

Property Tax Pre-Payment May Be Worth Thousands

The federal tax bill likely to be approved by Congress this month is an offensive mess for many reasons. Among its many objectionable provisions is a sharp cut in the deduction for state and local taxes, which will have an especially negative impact in suburban areas like Westchester. If the bill passes, it may be … Continue reading Property Tax Pre-Payment May Be Worth Thousands

New Ro Releases Draft Budget for 2018

New Rochelle City Manager Chuck Strome has released a draft budget for 2018, a $190 million plan that reflects our community’s improving economy and fiscal health.  Here’s the full document, and here’s a press release summarizing the contents.  Budget highlights include: •  New investments in public safety, continuing a phased, multi-year increase in Police staffing … Continue reading New Ro Releases Draft Budget for 2018

City Finances in Good Shape

Following an upgrade earlier this year, Moody’s Investors Services has confirmed New Rochelle’s Aa2 bond rating.  According to Moody’s, the sustained rating “reflects the City’s multi-year trend of operational surpluses and healthy financial position, along with maintenance of a stable tax base and moderate pension costs and debt burden.” It’s good news for taxpayers, who … Continue reading City Finances in Good Shape

Right on the Merits, Tough on the Politics

Sometimes doing the right thing means taking a political risk.  Case in point: this week, the New Rochelle Industrial Development Agency (IDA) approved a request from the owners of 255 Huguenot Street for a payment in lieu of taxes (PILOT) that will start in 2029 and run for 11 years. If you don’t recognize that … Continue reading Right on the Merits, Tough on the Politics

Keeping Track of Infrastructure Investments

Last December, the New Rochelle City Council approved a ten-year $150 million investment in capital and infrastructure priorities, the largest in our history. Now you can keep track of our progress on this web-page, which lists the status of individual projects.  As you will see, many initiatives are still in design, but physical improvements will … Continue reading Keeping Track of Infrastructure Investments