Washingtonville trustees outline path to financial compliance as tentative 2025–26 budget raises taxes 14.93%

Brendan Kennedy, an accounting consultant supporting the village's audit work, told the Village of Washingtonville Board of Trustees and residents at a Jan. 13 public hearing that auditors have made “good progress” and "we are on the verge of being caught up," as the village works through multi-year financial reconstruction and prepares a tentative 2025–26 budget.

The tentative budget posted Jan. 8 calls for a 14.93% increase in property taxes, no increase in water and sewer rates and a $7.5 million total spending plan. Treasurer Leslie summarized revenue lines including $5,000,003.93 in property taxes and roughly $1.0 million in sales tax; she described the tax increase as lower than last year’s adopted increase of 21.14%.

Why it matters: village officials said the municipality must repair multi-year gaps in audits and financial reporting before it can refinance short-term deficit borrowing. The village issued about $4.4 million in deficit borrowing; as of the Feb. 28, 2024 accounting period, officials say roughly $2.0 million of those proceeds were used to liquidate past-due liabilities and about $2.4 million remains invested in NYCLASS. The Office of the State Comptroller (OSC) must certify the deficit financing and will review the village’s budgets and AFRs while deficits are being repaid.

Key facts and supporting details: Kennedy said the village completed financial-audit work for 2021–22 and is wrapping up reconstruction for 2023; the 2024 audit work has started and officials expect to prepare and file the Annual Financial Report (AFR) with OSC for the first time…