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Larchmont finance update: tax collections holding steady, parking permits exceed expectations; trustees approve invoices totaling roughly $773,309
Summary
Finance director Joel Schuster told trustees property-tax collections are in line with prior years and online payments topped 50%; trustees approved payment of $432,006.07 in invoices and ratified $341,303.80 in paid invoices.
At the July 15 meeting Joel Schuster presented the village's first-quarter fiscal report and trustees approved several payments.
Schuster said property taxes remain the village's largest revenue source. Collections as of June 30 were roughly in line with prior years (the 6/30 average is about 90%, the transcript cites ~92% at 6/30 and about 97% at the time of the report). He noted online tax payments have increased year over year and this year exceeded 50% (the report cites about 52.5%).
Parking-permit revenue is projected at approximately $654,000 for the fiscal year and was increased in the budget by $50,000; Schuster said that projection includes permits tied to the train station and other permit categories. Flint Park day camp revenue has not fully recovered to pre-COVID levels; Sprint of Flint sold out 750 spots this year.
Following the report, Trustee Parrae reviewed bill list number 380702 and moved that the board resolve to pay invoices totaling $432,006.07; that motion was seconded and carried. The board also ratified paid invoices dated 07/10/2024 totaling $341,303.80. Trustees tabled consideration of an additional set of paid invoices dated 06/17/2024 because a final total was not available and said that list will be handled in a separate resolution.
Schuster said auditors will return in September for a full review of the books and that the village aims to have the auditor's report by Sept. 20.
