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East Hampton finance team touts AAA rating, details $222.8M in tax flows and digital payment upgrades
Summary
The finance division reported maintenance of the town's AAA bond rating, GFOA awards for financial reporting, and a breakdown of 2026 tax distributions (approximately $222.8M total with 63.6% to school districts). Staff described progress on timekeeping migration and online/IVR payment options.
The Town of East Hampton’s finance division presented its 2025 accomplishments and 2026 goals at the May 19 work session, highlighting stability in local finances and ongoing modernization projects.
Key achievements and figures - AAA bond rating retained, attributed to sound budgeting and fiscal management. - The town received the Government Finance Officers Association (GFOA) financial reporting achievement awards for 2023 and 2024 year‑end financials. - Accounting closed 115 capital projects in 2025 (up from 80 in 2024). - The town’s tax receiver reported the total payable funds at approximately $222.8 million for the year; of that, $141.7 million (63.6%) goes to school districts and libraries, $14.3 million (6.45%) to fire districts, about $66.3 million (29.79%) remains with the town, and Suffolk County receives roughly $345,000 (0.1%).
Payments modernization and collections Tax Receiver Christine Schwan described a multi‑channel payments environment: web payments account for roughly 41% of receipts, the lockbox accounts for 23–24%, in‑office payments remain about 32%, mobile/branch payments 3%, and IVR phone payments are nascent at 1% (expected to grow). Schwan noted the town’s transition from Govern to OpenForms for tax billing, which improved processing speed, and the installation of an IVR system so overseas payers can make secure phone payments.
Operational goals Accounting said 2026 priorities include continuing AAA rating maintenance, improving collections via automated statements and online payment options, completing migration to UKG timekeeping, scanning and attaching backup documentation into Munis for transparency, and providing training so departments can query financial data directly.
Why it matters: Maintaining a top credit rating keeps borrowing costs low for the town; improved digital payment options and clearer reporting aim to reduce staff time and taxpayer confusion around where tax dollars are allocated.
