The Village of Rhinebeck Board of Trustees convened on August 12, 2025, to discuss key financial updates and ongoing projects impacting the community. The meeting highlighted the village's fiscal performance for the 2024-2025 year, revealing that most departments adhered closely to their budgets, with significant capital project transfers noted.

The board reported a 23% allocation of funds towards capital projects, including $222,802 for the Center Street water upgrade and paving, $332,452 for sidewalk and fire station driveway improvements, and $415,000 earmarked for the Safe Routes to School initiative. Property taxes remained under the 2% cap, with the tax rate decreasing to $2.54 per thousand assessed value, down 23 cents from the previous year. This reduction reflects a shift in revenue sources, with property tax contributing only 50% of total revenue, down from 65% in 2019-2020.

The meeting also addressed unforeseen repairs in the water and sewer funds due to aging infrastructure, prompting proposed capital improvements. The village's financial health was further bolstered by interest earnings totaling $113,135 across various funds.

Significant grant funding was a focal point, with the village securing $6.5 million for water system upgrades and $5.5 million for wastewater treatment improvements. Additional grants included $230,000 for police equipment and $200,000 for park drainage improvements. The board is actively pursuing further grants to alleviate long-term debt associated with these projects.

The comprehensive plan and zoning code updates were also discussed, with a $148,500 grant secured for the zoning code update. The board emphasized the importance of maintaining a healthy fund balance, aiming for an unassigned fund balance of 15-25% of the subsequent year's budgeted expenditures.

Looking ahead, the board acknowledged the challenges of protecting village assets and infrastructure, particularly in light of new cybersecurity legislation requiring mandatory reporting and training for municipal employees. The meeting concluded with a commitment to adapt to evolving financial management practices, including the potential impact of artificial intelligence on budgeting and forecasting.

Overall, the meeting underscored the Village of Rhinebeck's proactive approach to fiscal management and community development, with a focus on securing funding and maintaining infrastructure amidst ongoing economic uncertainties.