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New Rochelle proposes $256 million 2026 budget, council presses for detail on cuts and capital reduction
Summary
City manager and finance staff presented a $256 million all‑funds 2026 spending plan that trims capital spending and aims to avoid using the unassigned general fund balance; council members pressed for line‑item detail, questioned an audit prepayment and pressed staff about the $27.7 million cut to capital projects.
The City of New Rochelle—s administration presented a proposed 2026 budget that holds the tax levy increase to the state cap formula (a 2.64% levy increase) and limits use of the city—s unassigned fund balance as it seeks to restore fiscal stability after 2024 audit findings. City finance staff said the all‑funds proposal totals $256,000,000, a roughly $20.5 million reduction from the prior year driven largely by trimming capital projects.
City Manager and finance staff said the city expects to finish the year with an improved unassigned general fund balance (they projected ending the year around $17 million and estimated a 17.49% unassigned‑balance percentage for 2026) and to remain below a 25% debt limit used by rating agencies; "we stayed within the debt limit — we're at 24.5%, under 25%," Ed, finance staff, told the council.
The package relies on ongoing strong sales tax and pilot revenues to offset other…
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