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Mamaroneck trustees adopt capital budget, staff flag $23 million in projects without identified funding
Summary
The Board of Trustees approved a FY2025 capital budget that staff say leaves roughly $23.0 million in outstanding project costs with only part of the funding identified; trustees discussed using reserves, grants and an anticipated bond of about $13 million to cover gaps.
The Village of Mamaroneck Board of Trustees voted on Feb. 10 to adopt a fiscal-year capital budget that staff said documents three groups of projects — completed projects lacking identified funding, active projects underway and promised projects needing funds — and shows approximately $23,000,008.85 in outstanding project balances.
Kathleen (village manager, speaking through staff) and finance staff told trustees the village expects roughly $9.8 million in additional grant funding (the sewer project accounts for about $4.9 million of that estimate) and that, at most, the village would need to bond approximately $13 million to cover the remainder. ‘‘The outstanding the total outstanding is $23,000,008.85,’’ a finance staff member stated during the presentation.
Trustees pressed staff for clarity on which previously approved projects lack funding and asked for a line-by-line accounting to ensure the five-year capital plan identifies funding sources before work proceeds. Trustees noted that projects were initiated over multiple prior years and that some expenses have already been incurred. One trustee urged staff to return with a clear funding map so that future capital decisions reflect trade-offs.
During discussion, trustees said the adopted capital plan will be used alongside a five-year capital budgeting process to prioritize projects and match them with grants, reserves or bond issues. Staff said smaller items (roughly those under a $50,000 cap) would be funded from fund balance, with larger unfunded projects proposed for bonding if grant revenue does not materialize.
The board approved the resolution to adopt the FY2025 capital budget by voice vote. Next steps identified by staff include a detailed review of prior resolutions authorizing projects (to confirm which remain active), tighter capital tracking, and the development of a multi-year timeline for flood-mitigation and drainage projects. A staff presentation recording and the capital summary were referenced during the meeting.
Votes at a glance - Adopt FY2025 capital budget: approved by voice vote.
What happens next Staff said they will prepare a detailed funding schedule and return to the trustees with a project-by-project accounting, identify grant opportunities, and outline any recommended bond amounts or reserve draws to implement the capital plan.
Sources and provenance This article draws on the trustees’ presentation and discussion (transcript segments beginning SEG 1163 through SEG 1310), the finance staff statements of outstanding balances and bond estimates, and trustee questions during the same section.
