IMMEDIATE RELEASE: November 6, 2023
Contact: Morgan McClary, MMcClary@co.montgomery.ny.us; 518-774-9138
EXECUTIVE AND LEGISLATURE REACH BUDGET AGREEMENT
Adopted Spending Plan Addresses Essential Services & Evolving Labor Market
FONDA—County Executive Matthew L. Ossenfort announced today that he has approved the 2024 budget. The $149.5 million spending plan, which stays under the tax cap, was adopted by the County Legislature last week.
The 2024 Adopted Budget, includes a property tax levy increase of 0.436 percent. General fund balance usage is $5.9 million and anticipated sales tax revenues are $42.5 million.
“By working collaboratively with our County Legislature we have reached an agreement that strikes a balance between delivering vital services and addressing the challenges presented by inflation and the current labor market,” Ossenfort said.
“I am pleased that the County Legislature worked collectively with the County Executive to reduce the proposed budget by a net $1,277, 512,” Legislative Chairman Robert Purtell said. “The original budget saw increases to the tax levy that were reduced to a 0.436 percent overall increase. Our goal going into the final budget was to reduce the impact of any municipality in the county to no more than 2.5 percent.”
Purtell said, while taking the equalization rates into consideration, some municipalities will see a modest increase in their county taxes while others should experience a reduction. Six municipalities will see a reduction. Capital projects were reduced for the 2024 year and an effort was made to reduce bonding by paying cash for projects under one million dollars.
“I would like to thank my fellow Legislators for their commitment to being financial stewards of the County, the County Executive and his staff for their continued hard work and the open communication that helped bring closure to the annual budget process,” Purtell said.
"The budget's approval is a testament to the diligence and cooperation between the Legislature and County Executive,” Montgomery County Budget and Finance Chairman Martin Kelly said. “We've worked hard to make fiscally responsible decisions that benefit our community. This budget reflects our commitment to maintaining essential services and achieving our financial goals."
“The 2024 County budget presented a few more challenges than recent years, as the cumulative effect of the past three years of Bidenflation have caused the County’s operating expenses to increase measurably, in lock step with every business and household in America over that same period,” Montgomery County District 7 Legislator Michael J. Pepe said. “However the County Executive and Treasurer worked closely with the Legislature to achieve a responsible budget under these trying economic times and have delivered a budget that continues to maximize the needs of our constituents while minimizing tax increases as much as possible.”