Peekskill reports surplus, debt reduction and major grant awards
Mayor Vivian McKenzie said 2024 revenues exceeded budget by $1M and expenditures were $100k under budget for an expected $1.3M surplus; she noted an ARPA grant of $2.3M, a Momentum Award of $10M (matched to reach $20M), fund balances of about $5M and debt reduced from $38.3M to $25.1M over five years.
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Mayor Vivian McKenzie gave a year-end financial snapshot for 2024, reporting revenue and debt trends and announcing major grant awards. She said the city expects 2024 revenues to exceed budget by $1,000,000 and expenditures to be $100,000 less than budget, yielding an expected $1,300,000 surplus; she cited revenue drivers including parking fines, permits, metered parking, non-property taxes and a $2,300,000 ARPA grant.
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