Rick Olver: Fiscal Facts First

To The Editor:rick-olver-croton-on-hudson.jpg

Croton United continues to insist that our financial sky is falling. The reality is that our Village’s finances remain very strong.
We held this year’s tax increase to under half of one percent. Annual debt service costs are down hundreds of thousands of dollars. Our bond rating remains high. Our fiscal health is confirmed by reports from the NYS comptroller and a clean independent audit.
Now CU is trying to scare us over the Village capital plan. They don’t tell you that capital plans for future years are tentative rolling lists of priorities, not commitments. For instance, the capital plan passed by the Croton United majority in 2016-2017 anticipated capital spending for 2019-2020 almost double what we’ve actually appropriated for this next year: $6,418,500 vs $3,591,300.
The capital plan sets our priorities for funding necessary investments for the community. Each year we choose to fund what we can afford from the list. The bulk of this year’s investment will turn the old DPW facility at the train station into revenue-earning parking spaces; perform required copper mitigation work on the Village water system; and replace the Fire Department’s over 20-year-old Engine 118.
Richard Olver
Croton Village Trustee

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