Representatives of both of Westchester”™s largest business associations, The Business Council of Westchester (BCW) and the Westchester County Association(WCA), had positive things to say about the proposed county budget for 2021 released this morning by County Executive George Latimer.
briefing at the County Office Building in White Plains.
The $2.091 billion operating budget calls for expenditures that are $15.7 million below the 2020 budget. It cuts county property taxes by $1 million, the same level of cut that was in the current budget. Latimer previously submitted a 2021 capital budget of $4.492 billion that contained $231.8 million in new appropriations for capital projects.
John Ravitz, the BCW”™s executive vice president and COO said his organization “is confident that the county executive and his team will be adopting a budget that to the degree possible maintains essential services, while at the same time protects the county”™s bond rating.”
Ravitz said that it still is not known what effect the financial situation the state is facing will have on the county”™s budget.
“The BCW looks forward to working with the county executive and the Board of Legislators as they seek to find the best fiscal path in this difficult time, and help send a clear and positive message that Westchester is economically stable and welcomes businesses and investment,” Ravitz said.
Michael N. Romita, president and CEO of the WCA, said, “Westchester”™s businesses and nonprofits need the county to maintain financial discipline while continuing to invest in the economy.”
He noted that the proposed budget lowers the tax levy for the second year in a row while putting money toward rebuilding infrastructure, business development and affordable housing.
“Under challenging circumstances, it has the positive hallmarks of responsive and responsible government,” Romita said.
When unveiling the budget, Latimer said, “This year has been extraordinarily challenging. Despite these challenges, we as a county have remained resilient and I have no doubt that working together we will emerge from this crisis stronger than before.”
The 2021 budget includes an additional:
- $5 million for economic development programs;
- $5 million for housing assistance programs; and
- $2 million to help combat food insecurity.
This 2021 proposed budget does not assume any additional extraordinary federal assistance and also anticipates a 20% reduction in state aid.
County parks are expected to bring in lower revenues than in the past because of the effects from the Covid pandemic that kept people at home and caused some park facilities to be used for testing stations and other purposes related to fighting the outbreak. The county said that the new budget fully funds the parks and recreational facilities that have remained open without raising fees.
“While the economy has rebounded, we are still not back to the level of economic activity we experienced prior to the pandemic,” Latimer said. “Sales tax, the single largest revenue source for the county, has improved. However, collections for this year (2020) are anticipated to be $662 million or $80 million below the $742 million budgeted.”
The 2021 county budget projects that sales tax receipts will reach $695 million, which is $46 million below the figure in the 2020 budget.
Excellent news indeed! Thanks George!