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Menands board weighs one-time deficit-reduction charge after auditor finds $990,000 shortfall
Summary
An auditor reported an accumulated deficit of roughly $990,000. Staff told the board $440,000 of that amount can likely remain in utility funds under NY Municipal Law chapter 94, leaving about $550,000 to address; staff proposed a one-time $180 per $1,000 assessed-value levy to eliminate the gap.
The Menands Village Board spent much of a budget workshop reviewing an auditor-identified accumulated deficit and debating how to close the remaining shortfall without creating long-term tax increases.
The auditor’s review identified an accumulated deficit of roughly $990,000 in the village accounts. Staff and counsel reviewed New York State municipal law (chapter 94) and reported that about $440,000 in amounts previously held as relevied utility receipts need not be repaid to those utility funds, reducing the immediate amount to be covered to about $550,000. The board discussed several ways to address that balance,…
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