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Manager presents incentive capital wish list and closes 2018 audit; trustees told larger projects may wait multiple budget cycles
Summary
Village Manager shared an incentive capital wish list and reported the 2018 audit has closed with an unassigned fund balance of about $2.1 million; he said large bond‑funded projects would likely need multiple budget cycles and that staff continues to explore financing options.
Village Manager Mike Mills presented a proposed incentive capital plan and an update on the village's audit during the Jan. 14 work session, describing the document as a preliminary "wish list" of capital priorities rather than an adopted plan.
Mills said the village has received significant paving work paid for by utility penalties and obligations (Con Edison projects) and that the last two paving projects exceeded $400,000 each. He told trustees the 2018 audit was finalized and that at the close of fiscal 2018 the village reported an unassigned fund balance of about $2.1 million; Mills said the village's unofficial internal tracking indicates the current balance is higher. He described the 2018 audit as difficult, citing problems with the village's old accounting computer system and staff turnover in the treasurer's office that required third‑party assistance to reconstruct the year.
Trustees asked whether items on the wish list requiring bonded financing would be available in the near term; Mills said that such projects are likely a few budget cycles away but that he was exploring financing options with financial institutions that might accelerate some items.
The Board also discussed scheduling: because the Westchester County Board of Elections had a special election on Feb. 11, the village's second February meeting was scheduled for Feb. 25. At the end of the work session a trustee moved to adjourn; the transcript records the motion, an in‑favor voice vote and adjournment but does not record a mover's name or a roll‑call tally.
