Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
Chemung adopts 2026 budget; committee approves bond anticipation notes
Summary
The Chemung Township Committee adopted its 2026 municipal budget (2026R-71), noting an average local tax increase of about $7 per year for the typical taxpayer and approved authorization to issue $1,454,591 in bond anticipation notes for road programs, equipment and cemetery work.
The Chemung Township Committee adopted the 2026 municipal budget after a public hearing and staff presentation on current fund balances and appropriation levels. Robin (the finance presenter) reported the township began the year with a fund balance of about $2.229 million and projected an ending fund balance near $1,000,009; the proposed tax change represented approximately a $7 monthly impact on an average taxpayer when combined with local charges, the township noted.
A member of the public asked whether the township had tried to avoid any tax increase; committee leaders said they had minimized increases and reminded residents that school, county and library levies also affect the total property-tax bill. With no substantive public opposition, the committee moved to adopt resolution 2026R-71 and approved it by recorded vote.
On capital financing, the committee authorized the issuance of bond anticipation notes (series 2026) totaling $1,454,591 to fund the 2016 and 2022 road programs, cemetery construction site work and acquisition of a fire truck. The resolution directs staff to work with the municipal bond counsel and set the sale; officials said interest-rate details were yet to be finalized but noted a prior BAN purchase example included an interest rate near 4% with a net interest cost of about 3.79%.
What’s next: Staff will post the adopted budget to the township website, coordinate the bond sale, and report back when financing terms are set.
