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Village board approves $70,000 transfer to reserve accounts
Summary
The Highland Falls village board approved a resolution moving $70,000 from various budget lines into five reserve accounts to strengthen fiscal stability; the roll-call vote was unanimous. The transfer includes $5,000 for village hall repairs and $25,000 for DPW vehicle replacement.
The Highland Falls village board voted unanimously on May 5 to transfer $70,000 from several budget lines into newly established reserve accounts intended to strengthen the village’s fiscal position.
Chair said the resolution would “provide for future stability of operations, protecting taxpayers from unforeseen needs,” and then read the specific allocations: Village Hall repair reserve $5,000; Police vehicle reserve $10,000; Fire engine reserve $25,000; Fire command-vehicle reserve $5,000; and DPW vehicle reserve $25,000, for a total of $70,000. Trustee Olivia moved the motion and Trustee Carroll seconded; a roll-call vote recorded all affirmative votes from trustees and the mayor.
Board members framed the transfers as a routine, prudent step that will allow the village to set aside funds from lines not fully used this year so they are available for capital needs without seeking immediate borrowing. The funds will be deposited in accordance with the village investment policy into the stated reserve accounts.
The board did not attach an immediate capital project to these reserves; Chair said the transfers were intended as a forward-looking stability measure and that the clerk and treasurer will report final totals at the next meeting.
