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Date Posted: Friday, August14, 06:51:pm
Author: BJ (HELP!)
Subject: Re: Why are we in this situation?
In reply to: westender 's message, "Re: Why are we in this situation?" on Thursday, August13, 04:08:pm

http://www.osc.state.ny.us/localgov/audits/2003/cities/newburghbr.pdf

I am very concerned about the Budget for 2010. We are in a crisis, at a city council meeting Councilwoman Bell stated, “We are broke!” If you can recall we blogged at length with regard to the 2009 budget and the effect on this city if they went ahead with the thoughtless spending.
The audit of 2003 the office of the State Comptroller suggests some measures to ward off the situation we are facing. Which we ignored, I will quote their warning, “….For example, the 2004 proposed budget includes a real property tax levy of $11,032,444., or an increase of 12.43 percent over the prior year. If this increase is approved, the City’s tax capacity or Constitutional tax limit will approximate 83 percent…”
If my math is right that leaves with a 17% of the City’s taxing ability. My concern is what has happened since 2004, does any reader out there know the tax limit in the 2009 budget? I refer you to table 2 page C2 of the 2009 budget, can some one out there interpret that page and tell us what we can look forward to.

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