LEWISBORO, N.Y. Supervisor Peter Parsons is predicting 2013 is going to be a particularly rough year for Lewisboro from a fiscal standpoint.
In a memo Parsons sent out to his department heads last week, the supervisor noted the combination of interest the town must pay on money it borrowed to cover mandated capital expenses, along with the exhaustion of money the town once had from the sale of four houses on the Leon Levy Preserve, has created a dilemma.
The bad news is that we will need to borrow to cover capital expenditures for which the budget failed to provide the necessary funding, such as ADA compliance, storm water mapping and water quality on town property, Parsons wrote in his report.
He estimated the town has borrowed around $250,000 for the American With Disabilities Act projects, which include the renovations of the Onatru farmhouse and the Town House and relocation of the police headquarters.
Also contributing to the towns budget challenges, Parsons said, is that previously negotiated pay increases, together with right health care and pension costs, will eat up most of the increase allowed under the state-imposed 2 percent property tax cap.
All this without even beginning to rebuild our rapidly deteriorating road infrastructure, Parsons said.
Parsons explained that three years ago, the town sold four homes on the Leon Levy property for in excess of $1 million, but, to his chagrin, that money has now been spent. He said it should have been used to pay off town debt.
Put simply, in recent years when faced with the choice of pay me now or pay me later, we have consistently chosen later, he said. The chickens have now come home to roost. 2013 is going to be tough.
Parsons said the good news is the towns 2012 running expenses have now been brought within budget and Town Comptroller Leo Mastersons work on next years budget is on schedule.
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