HomeMy WebLinkAboutAgenda 05-08-2023TOWN OF ITHACA
BUDGET COMMITTEE
Monday, May 8, 2023 - 12:00 p.m.
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AGENDA
• Review and approve meeting minutes from March 20, 2023.
• Review and discuss Proposed Dissolution Plan for Burleigh Drive Lighting District.
• Review and discuss projected debt payments.
• Review January Sales Tax Receipts.
• Review and approve 1Q 2023 Budget Amendments.
• Review and discuss 2023 Interest Earnings and Investments.
• Consider Tompkins County Chamber of Commerce membership.
• Other Items
Next Meeting: Monday, June 12, 2023 - 12:00 p.m.
1
BUDGET COMMITTEE
Meeting Minutes - March 20, 2023
Committee present: Eric Levine - Chairman, Pam Bleiwas, Rod Howe
Staff present: Donna Shaw, Marty Mosely, CJ Randall
Meeting was called to order at 12:05 p.m.
AGENDA ITEMS:
Review and approve meeting minutes from February 13, 2023.
Moved: Pam Bleiwas Second: Rod Howe Motion: Passed
Continue discussion regarding Projected Fund Balance for 2022 and potential reserve accounts.
The Committee reviewed the draft Fund Balance report for 2022. The General Fund has
$1,930,000 in excess fund balance that, according to our Fund Balance Policy, needs to be spent
down or set aside in a reserve fund. The Committee discussed setting up a Reserve for Bonded
Indebtedness for $1,064,000. This amount would cover the principal payments on the 2020 Bond
for the Public Works Expansion Project. The reserve fund would earn interest that would be used
to help cover the interest payments on the debt. Setting up this reserve for these payments
would eliminate the need to tax for these bond payments in future years. The 2023 debt payment
is $104,316. There would be $866,000 remaining in excess fund balance to fund potential projects
in the 2024 CIP.
Generally, fund balance has grown in all funds since 2021 when the Fund Balance Policy was
adopted. This is largely due to increased sales tax and interest income.
There is the potential to set up Capital Reserve Funds in the Highway Funds and we have
requested guidance from Susan Brock before proceeding.
Update on 2022 Sales Tax Collections.
The committee reviewed and discussed the Sales Tax Collections Report for December 31, 2022. In
2022 we received $4,483,397.51, exceeding the $3,250,000 budget by $1,233,397.51. This
represents 138% of the budget for sales tax. In 2023, we increased the sales tax budget to
$3,750,000.
This also represents a 12.6% increase over 2021 collections.
Update on current investments and proposal from Community Bank.
- Current Investments: The Committee reviewed the Investment Report for February 28, 2023.
The Town currently has $13.9 million in NYCLASS and three certificates of deposit totaling $18.2
million at Tompkins Community Bank. The CD’s are all for 12 months and laddered with maturity
dates on July 4th, December 28th and February 14th. This allows us to have access throughout
the year, if needed.
Interest rates on the CD’s are 3.85%, 4.5% and 4.6%. NYCLASS is currently 4.43%.
2
- Community Bank: Community Bank reached out to us regarding opening an account with them.
Their proposal was a Money Market Account earning 4.5% with a minimum balance of $100,000
and/or a 3 month CD with a rate of 4.5%. The Committee discussed the proposal but decided not to
establish a relationship with them at this time. We would reconsider if their rates were higher than
we are currently receiving from NYCLASS and Tompkins Community.
Discuss dissolution of Light Districts.
The Committee reviewed and discussed the fund balance report for the Light Districts with projected
expenditures and revenues for 2023. All funds are expected to zero out by the end of the year. Any
residual funds left would move to the General Fund to offset future costs. The Light Districts represent
a very small percentage of the overall budget, so it makes sense to dissolve them and eliminate the
administrative budget of tracking them.
The process for dissolving the Light District will include individual dissolution plans and public hearings.
We are in the process of developing a policy for when we would install new streetlights.
Discuss potential contribution to TCAT.
The committee discussed the potential contribution to TCAT. Members decided that if there was a
funding request for a need specifically for Town residents, then they would consider a contribution.
Discuss potential increase in the income limit for Disabled and Senior Citizen Property Tax
Exemptions.
The Town increased the income limits to $37,400 in 2022. Shortly after that the State increased the
maximum income to $50,000. The County and some surrounding Town’s raised their limit to
$43,400 last year. According to Jay Franklin’s analysis, the Town would have an additional 57 people
eligible for the exemption if we increased to $43,400. This would increase our tax by $2.01 for the
average assessed home in Cayuga Heights and $1.75 tax increase too the average assessment in the
Town Outside the Village.
The Committee was supportive of increasing the income limits.
Other Items.
There were no other items to discuss.
The meeting was adjourned at 12:47 p.m.
Next Meeting: Monday, April 10th at 12:00 p.m., Town Hall - Aurora Room or Zoom
DraftDissolution Plan
Burleigh Drive Lighting District
The Burleigh Drive Lighting District was established on September 9, 1991 to provide for seven (7)
streetlights in the area:
Commencing at the intersection of the center line of Burleigh Drive with the Easterly boundary line of
the Village of Cayuga Heights, which point is just north of the northwest corner of Town of Ithaca
tax parcel No . 72- 1- 1 .99 ; running thence south along the Cayuga Heights boundary line and in part
along the west line of tax parcel 72- 1- 1 .199 to a point 200 feet south of the center line of Burleigh
Drive ; running thence easterly , northeasterly , and northerly on a line parallel to the center line of
Burleigh Drive and 200 feet distant therefrom to the north line of the Town of Ithaca , running
thence westerly along the north line of the Town of Ithaca and the north line of tax parcel 72- 1- 1 .185
200 feet to the center line of Burleigh Drive ; continuing thence westerly along the north line of
the Town of Ithaca 200 feet to a point ; running thence southerly southwesterly and westerly on a line
parallel with the center line of Burleigh Drive and 200 feet distant therefrom to the center line
of the westerly portion of the loop road known as Lexington Drive , which point is westerly from
premises reputedly owned by the Church of Latter Day Saints being Town of Ithaca tax parcel 72- 1- 1
.170 ; thence southerly along the center line of Lexington Drive 200 feet to the center line of Burleigh
Drive ; thence westerly along the center line of Burleigh Drive a distance of approximately 60 feet
to the east line of the Village of Cayuga Heights and the point or place of beginning .
On December 31, 2022, the Burleigh Lighting District had available fund balance of $2,397.58. The Town
assessed property tax of $1,000 to thirty-three (33) parcels within the lighting district in 2023,
proportionately allocated based on road frontage. The estimated expenses for 2023 (including the cost
of conversion to LED lights and 8 months of streetlight maintenance) is $3,200. Any residual funds
(estimated to be $197) left at 12/31/2023 will be moved to General Fund to offset future costs.
Future costs for the streetlights will be paid by the General Fund – At-Large Streetlights. Future yearly
costs for electricity are estimated to be $350 and will be paid from the At-Large Streetlight account
A5182.447 and maintenance is estimated to be $164 and will be paid from the At-Large Streetlight
account A5182.441.
The districts assets include seven streetlights purchased from NYSEG in 2021 for $2,069. The streetlights
were upgraded to LED in 2023 for a cost of $2,702.
The effective date for the dissolution of the district is December 31, 2023.
The Public Hearing will be held September 11, 2023 at 5:30 p.m. in the Board Room, Town Hall, 215 N.
Tioga Street, Ithaca, NY 14850.
First Call Date
2024 2025 2026
2027 2028 2029 2030 2031 2032 2033 2034 2035
2014-A n/a 90,000$ -$ -$ -$ -$ -$ -$ -$ -$ -$
2014-B 12/15/2024 143,000$ 146,000$ 150,000$ 154,000$ 161,000$ 165,000$ -$ -$ -$ -$ -$ -$
2015 10/15/2022 145,000$ 150,000$ 155,000$ 155,000$ 160,000$ 165,000$ 170,000$ -$ -$ -$ -$ -$
2018 12/1/2025 260,000$ 265,000$ 275,000$ 285,000$ 290,000$ 300,000$ 310,000$ 320,000$ 330,000$ 340,000$ -$ -$
2020-A 8/15/2029 118,300$ 121,410$ 127,650$ 133,870$ 143,200$ 149,440$ 152,550$ 155,660$ 158,770$ 161,890$ 165,000$ 168,110$
2020-B 8/15/2028 185,000$ 100,000$ 105,000$ 110,000$ 115,000$ 120,000$ 125,000$ 130,000$ -$ -$ -$ -$
2024 est -$ 150,000$ 150,000$ 150,000$ 150,000$ 150,000$ 175,000$ 175,000$ 175,000$ 175,000$ 175,000$ 175,000$
TOTAL 941,300$ 932,410$ 962,650$ 987,870$ 1,019,200$ 1,049,440$ 932,550$ 780,660$ 663,770$ 676,890$ 340,000$ 343,110$
First Call Date
2024 2025 2026
2027 2028 2029 2030 2031 2032 2033 2034 2035
2014-A n/a 1,069$ -$ -$ -$ -$ -$ -$ -$ -$ -$
2014-B 12/15/2024 26,855$ 23,280$ 18,900$ 14,400$ 9,780$ 4,950$ -$ -$ -$ -$ -$ -$
2015 10/15/2022 24,062$ 21,163$ 18,162$ 15,063$ 11,769$ 8,169$ 4,250$ -$ -$ -$ -$ -$
2018 12/1/2025 88,953$ 81,179$ 73,255$ 65,033$ 56,511$ 47,840$ 38,870$ 29,601$ 20,033$ 10,166$ -$ -$
2020-A 8/15/2029 54,450$ 48,535$ 42,464$ 36,082$ 29,388$ 22,228$ 19,240$ 16,189$ 13,075$ 9,900$ 6,662$ 3,362$
2020-B 8/15/2028 38,250$ 29,000$ 24,000$ 18,750$ 13,250$ 7,500$ 5,100$ 2,600$ -$ -$ -$ -$
2024 est 100,000$ 94,000$ 88,000$ 82,000$ 76,000$ 70,000$ 63,000$ 56,000$ 49,000$ 42,000$ 35,000$
TOTAL 233,639$ 303,156$ 270,781$ 237,327$ 202,698$ 166,687$ 137,460$ 111,390$ 89,108$ 69,066$ 48,662$ 38,362$
Water Debt Service by Year
2024 - 2035
Year
Issued
Year
Issued
Interest Payments
Principal Payments
ACTUAL ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED ESTIMATED
2022 2023 2024 2025 2026 2027 2028
REVENUE:
- ASSESSED WATER UNITS 7,925.69 7,821.42 7,821.42 7,831.42 7,841.42 7,851.42 7,861.42
- BENEFIT ASSESSMENT/UNIT $182.81 $189.59 $195.00 $200.00 $205.00 $215.00 $215.00
TOTAL REVENUE 1,448,895.39$ 1,482,863.02$ 1,525,176.90$ 1,566,284.00$ 1,607,491.10$ 1,688,055.30$ 1,690,205.30$
EXPENSE:
Project Contribution - Cash 68,555.50$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$ 300,000.00$
- BONDED DEBT OBLIGATION
Public Improvement Bond - 2004-A -$ -$ -$ -$ -$ -$ -$
Public Improvement Bond - 2004-B Refunded Refunded Refunded - - - -
Public Improvement Bond - 2009 Refunded Refunded Refunded - - - -
Public Improvement Bond - 2011 Refunded Refunded Refunded Refunded Refunded Refunded Refunded
Public Improvement Bond - 2013 Redeemed Redeemed Redeemed Redeemed Redeemed Redeemed Redeemed
2004-B Refunding Bond - 2014-A 100,284.38 98,206.25 91,068.75 - - - -
Public Improvement Bond - 2014-B 168,193.76 169,156.26 169,855.00 169,280.00 168,900.00 168,400.00 170,780.00
Public Improvement Bond - 2015 167,591.26 165,863.00 169,062.00 171,163.00 173,162.00 170,063.00 171,769.00
Public Improvement Bond - 2018 343,603.50 346,427.50 348,952.50 346,178.50 348,255.00 350,032.50 346,511.00
Public Improvement Bond - 2020-A 171,196.00 172,134.00 172,750.00 169,945.00 170,114.00 169,952.00 172,588.00
2009/2011 Refunding Bond - 2020-B 220,500.00 227,250.00 223,250.00 129,000.00 129,000.00 128,750.00 128,250.00
Public Improvement Bond - 2024 - - - 250,000.00 244,000.00 238,000.00 232,000.00
- - - -
- TOTAL BONDED DEBT OBLIGATION 1,171,368.90$ 1,179,037.01$ 1,174,938.25$ 1,235,566.50$ 1,233,431.00$ 1,225,197.50$ 1,221,898.00$
TOTAL EXPENSE 1,239,924.40$ 1,479,037.01$ 1,474,938.25$ 1,535,566.50$ 1,533,431.00$ 1,525,197.50$ 1,521,898.00$
EXCESS (SHORTAGE) - CUMULATIVE 223,787.90$ 227,613.91$ 277,852.56$ 308,570.06$ 382,630.16$ 545,487.96$ 713,795.26$
% of Expense Covered by Revenue 116.85% 100.26% 103.41% 102.00% 104.83% 110.68% 111.06%
DESCRIPTION
SUMMARY OF ACTUAL & ESTIMATED WATER BENEFIT ASSESSMENT REVENUE AND RELATED EXPENSE
TOWN OF ITHACA
General Highway Fire
Part-Town Part-Town Protection TOTAL
Liability Month B1120 DB1120 SF1120
Month Collected 1,732,000.00$ 1,712,000.00$ 306,000.00$ 3,750,000.00$ 0.4619 0.4565 0.08 1.0000
January May 170,521.16$ 168,552.09$ 30,126.72$ 369,199.97$
February May 0.00 0.00 0.00 -
March May 0.00 0.00 0.00 -
April June 0.00 0.00 0.00 -
May June 0.00 0.00 0.00 -
June August 0.00 0.00 0.00 -
July August 0.00 0.00 0.00 -
August November 0.00 0.00 0.00 -
September November 0.00 0.00 0.00 -
October December 0.00 0.00 0.00 -
November February 0.00 0.00 0.00 -
December February 0.00 0.00 0.00 -
TOTAL COLLECTIONS:170,521.16$ 168,552.09$ 30,126.72$ 369,199.97$
TOTAL - 2023 BUDGET:1,732,000.00$ 1,712,000.00$ 306,000.00$ 3,750,000.00$
% of 2023 Budget Collected:9.8%9.8%9.8%9.8%
COMPARISON
PERIOD 2020 2021 2022 2023 TO PRIOR YEAR
January 266,756.00$ 241,976.77$ 349,600.04$ 369,199.97$ 105.61%
February 241,529.18 220,287.15 300,462.74 - 0.00%
March 294,969.05 392,202.28 396,743.39 - 0.00%
1st Quarter 803,254.23$ 854,466.20$ 1,046,806.17$ 369,199.97$ 35.27%
April 193,919.94$ 281,825.36$ 350,840.20$ - 0.00%
May 181,781.59 284,332.00 366,126.50 - 0.00%
June 279,411.53 431,611.13 330,348.56 - 0.00%
2nd Quarter 655,113.06$ 997,768.49$ 1,047,315.26$ -$ 0.00%
First 6 Months 1,458,367.29$ 1,852,234.69$ 2,094,121.43$ 369,199.97$ 17.63%
July 254,742.19$ 314,638.93$ 384,844.57$ - 0.00%
August 248,307.40 312,514.79 358,575.22 - 0.00%
September 437,518.95 472,220.61 458,984.88 - 0.00%
3rd Quarter 940,568.54$ 1,099,374.33$ 1,202,404.67$ -$ 0.00%
First 9 Months 2,398,935.83$ 2,951,609.02$ 3,296,526.10$ 369,199.97$ 11.20%
October 269,331.84$ 292,143.63$ 350,174.18$ - 0.00%
November 231,274.86 302,394.38 340,396.99 - 0.00%
December 381,304.49 436,657.63 496,300.24 - 0.00%
4th Quarter 881,911.19$ 1,031,195.64$ 1,186,871.41$ - 0.00%
ANNUAL TOTAL 3,280,847.02$ 3,982,804.66$ 4,483,397.51$ 369,199.97 8.23%
COMPARISON
PERIOD 2020 2021 2022 2023 TO PRIOR YEAR
April/May 100,391.42$ 158,060.48$ 134,965.47$ -$ 0.00%
October/November 196,709.44 224,517.51 269,365.59 - 0.00%
ANNUAL TOTAL 297,100.86$ 382,577.99$ 404,331.06$ -$ 0.00%
TOWN OF ITHACA
SALES TAX COLLECTIONS
For the Year Ending December 31, 2023
2019 - 2022 COMPARISON OF SALES TAX COLLECTIONS
Mortgage Tax Collections
Overview
Local government sales tax collections in New York State totaled $5.5 billion in the first calendar quarter
(January-March) of 2023, an increase of 7.1 percent, or nearly $369 million, compared to the same period last
year.1 (See Figure 1.)
On a monthly basis, robust sales tax increases in both January (9.2 percent) and February (14.1 percent) were
followed by slower growth in March (0.3 percent).
Over the past several quarters, overall growth in statewide local collections has been moderating. This may be
in keeping with a return to more typical collections patterns: year-over-year growth in the decade immediately
prior to the onset of the pandemic in 2020 averaged 4.5 percent.2
Inflation remains one of the factors keeping sales tax growth robust. Despite its recent moderation, the
consumer price index still grew an average of 5.8 percent nationally in the January-March quarter over the same
period the year before, boosting the cost of taxable purchases.3 In addition, growth in personal consumption, at
the national level, was back up during the first quarter after softening a bit at the end of last year.4
Thomas P. DiNapoli, State Comptroller
OFFICE OF THE NEW YORK STATE COMPTROLLER
Division of Local Government and School Accountability May 2023
Local Sales Tax Collections Increase by
Over 7 Percent in the First Quarter of 2023
Overall Growth Continues to Gradually Return to Pre-Pandemic Rates
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
Monthly Year-Over-Year
7.1%
(1Q 2023)
1Q
2019
2Q
2019
3Q
2019
4Q
2019
1Q
2020
2Q
2020
3Q
2020
4Q
2020
1Q
2021
2Q
2021
3Q
2021
4Q
2021
1Q
2022
2Q
2022
3Q
2022
4Q
2022
1Q
2023
Quarterly Year-Over-Year
FIGURE 1
Percentage Change in Statewide Local Sales Tax Collections
Source: New York State Department of Taxation and Finance (Tax and Finance), with calculations by the Office of the New York State Comptroller (OSC).
Notes: Includes New York City.
2 Office of the New York State Comptroller May 2023
Regional Sales Tax Performance
New York City’s strong performance in the first quarter of 2023 also buoyed overall growth in
statewide local sales taxes. The City’s collections totaled nearly $2.5 billion, an increase of 11.3
percent – or $252 million – compared to the same period the previous year. (See Figure 2.)
This marks the eighth consecutive quarter of double-digit growth in City collections, as New York
continues to recover from the effects of the pandemic. The steady return of office workers and
international visitors – especially with China recently lifting its inbound and outbound COVID-related
travel restrictions – continues to strengthen the City’s major tourism-related industries such as retail,
restaurants, and arts, entertainment and recreation.5
On the other hand, collections for the counties and cities in the rest of the State, in aggregate,
grew by 3.3 percent (or $85 million) in the first quarter, closer to the quarterly growth rates seen in
2019 prior to the pandemic’s swings.6 Sales tax revenue in the rest of the State rebounded to pre-
pandemic levels much more quickly than City collections and have been generally strong for the
past year or so.
FIGURE 2
Quarterly Local Sales Tax Collections for New York City and Rest of State
Source: Tax and Finance, with calculations by OSC.
Note: "Rest of State" includes all counties and cities located outside of New York City; however, it does not include local sales taxes collected on behalf
of the New York Convention Center Development Corporation, the Mass Transportation Operating Assistance Fund, the Metropolitan Transit Authority
Aid Trust Account and school districts.
5.0%3.6%6.3%5.0%1.3%
-34.9%
-21.9%-18.5%-13.2%
44.6%
27.9%26.3%28.5%24.9%
16.8%14.2%11.3%
1.9%2.7%6.4%6.3%8.0%
-19.0%
2.3%4.6%5.6%
52.5%
14.2%12.8%15.2%
2.6%5.3%4.5%3.3%
-60%
-45%
-30%
-15%
0%
15%
30%
45%
60%
75%
1Q2019 2Q2019 3Q2019 4Q2019 1Q2020 2Q2020 3Q2020 4Q2020 1Q2021 2Q2021 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023
New York City Rest of State
$1.97 $2.05 $2.06 $2.15 $2.00
$1.33 $1.61 $1.75 $1.74 $1.93 $2.06 $2.21 $2.23 $2.41 $2.40 $2.53 $2.48$1.99 $2.19 $2.38 $2.29 $2.15 $1.77
$2.44 $2.39 $2.27
$2.70 $2.78 $2.70 $2.61 $2.77 $2.93 $2.82 $2.70
$0.0
$0.5
$1.0
$1.5
$2.0
$2.5
$3.0
$3.5
$4.0
$4.5
1Q
2019
2Q
2019
3Q
2019
4Q
2019
1Q
2020
2Q
2020
3Q
2020
4Q
2020
1Q
2021
2Q
2021
3Q
2021
4Q
2021
1Q
2022
2Q
2022
3Q
2022
4Q
2022
1Q
2023
New York City Rest of State
FIGURE 2
Quarterly Local Sales Tax Collections for New York City and Rest of State
Source: Tax and Finance, with calculations by OSC.
Notes: "Rest of State" includes all counties and cities located outside of New York City; however, it does not include local sales taxes collected on behalf of the New York Convention
Center Development Corporation, the Mass Transportation Operating Assistance Fund, the Metropolitan Transit Authority Aid Trust Account and school districts.
Year-Over-Year Percentage Change
Total Dollar Amount (In Billions)
3 May 2023 Division of Local Government and School Accountability
County and City Collections
Most counties (50 out
of 57) experienced
year-over-year sales
tax increases in the first
quarter of 2023, with a few
experiencing double-digit
growth. (See Figure 3.)
Schuyler County had the
strongest growth at 11.7
percent, followed by the
counties of Livingston
(11.2 percent) and
Herkimer (10.7 percent).
Conversely, Dutchess
County experienced the
steepest decline at 7.4
percent.
Most (14) of the 18 cities
outside of New York
City that impose their
own sales tax instead
of receiving a portion of
county collections also
experienced growth
in the January-March
period.7 Saratoga Springs had the strongest year-over-year increase at 13.4 percent, followed
by the cities of Norwich (13.3 percent) and Glens Falls (11.4 percent). Of the four cities that saw
declines, the City of Auburn experienced the steepest drop at 4.8 percent.
Several factors can affect individual county and city collections growth, and many are not related
to broad economic or regional trends. For instance, Tax and Finance regularly makes prior period
corrections and late filing changes – referred to in our reports as “technical adjustments” – to
correct for earlier sales tax distribution inaccuracies.8 These can significantly affect year-over-
year changes on a quarterly basis. For example, Sullivan County would have experienced a
moderate decline in sales tax collections in the first quarter had they not been more than offset
by over $1.4 million in technical adjustments. Likewise, Albany County would have seen almost
no growth at all were it not for the addition of nearly $7.8 million in technical adjustments. In many
cases, smaller counties, and even most cities, can show big changes in collections from factors
that would typically not affect larger entities, such as a few large sales in a particular month.
Despite some exceptions, looking at the annual collections for every local government can
usually provide a better picture of actual sales tax performance in any given year.
(To view collections by region and local taxing jurisdiction for the first quarter of 2023,
see the Appendix. To download a detailed spreadsheet with monthly and quarterly analysis,
see Monthly and Quarterly Local Sales Tax Collections by Region.)
YatesWyoming
Westchester
Warren
Tompkins
Tioga
Sullivan
Suffolk
Steuben
St. Lawrence
Seneca
Schuyler
Schoharie
Schenectady
Saratoga
Rockland
Rensselaer
Putnam
Otsego
Oswego
Orange
Ontario Onondaga
OneidaNiagara
New York City Nassau
Monroe
MadisonLivingston
Lewis
Jefferson
Hamilton
Greene
Genesee
Fulton
Franklin
Essex
Erie
Dutchess
Delaware Columbia
Clinton
Chenango
Chemung
Chautauqua
Cayuga
Cattaraugus Broome
Wayne
Washington
Ulster
Orleans
Montgomery
Herkimer
Cortland
Allegany
Albany
Percentage Change Year-Over-Year
Increase more than 10 percent
Increase between 5 percent and 10 percent
Increase less than 5 percent
Decrease less than 5 percent
Decrease more than 5 percent
FIGURE 3
Change in County Sales Tax Collections, January-March 2022 to
January-March 2023
Source: Tax and Finance, with calculations by OSC.
Notes: Includes county and New York City collections.
4 Office of the New York State Comptroller May 2023
Appendix: Sales Tax Collections by Region, First Quarter (January - March)
Region City/ County
First Quarter (Jan-Mar)January February March
2022
(millions)
2023
(millions)
Percentage Change 2022
(millions)
2023
(millions)
Percentage Change 2022
(millions)
2023
(millions)
Percentage Change 2022
(millions)
2023
(millions)
Percentage Change
Capital District $223.6 $239.5 7.1%$73.21 $82.69 12.9%$57.23 $72.40 26.5%$93.12 $84.45 -9.3%
Albany County $78.78 $86.62 9.9%$27.29 $30.47 11.6%$17.68 $26.30 48.8%$33.81 $29.85 -11.7%
Columbia County $14.32 $14.60 2.0%$4.02 $4.77 18.5%$3.32 $4.29 29.1%$6.98 $5.55 -20.5%
Greene County $10.66 $10.99 3.1%$3.30 $3.69 12.0%$2.77 $3.29 18.8%$4.59 $4.00 -12.8%
Rensselaer County $27.71 $30.52 10.1%$9.11 $10.13 11.2%$7.73 $8.97 16.2%$10.87 $11.41 4.9%
Saratoga County $37.17 $38.88 4.6%$12.56 $13.71 9.1%$10.41 $11.86 13.9%$14.20 $13.31 -6.2%
Saratoga Springs City $3.26 $3.69 13.4%$1.11 $1.14 3.2%$0.91 $1.04 14.3%$1.24 $1.51 21.8%
Schenectady County $29.96 $31.33 4.6%$8.85 $10.98 24.1%$8.42 $9.86 17.1%$12.69 $10.49 -17.4%
Warren County $14.27 $14.93 4.6%$4.56 $5.23 14.6%$3.93 $4.48 14.0%$5.78 $5.22 -9.6%
Glens Falls City $0.99 $1.11 11.4%$0.33 $0.35 5.0%$0.27 $0.33 20.4%$0.39 $0.43 10.4%
Washington County $6.44 $6.87 6.7%$2.08 $2.22 6.7%$1.80 $1.98 10.0%$2.56 $2.67 4.4%
Central New York $159.1 $167.0 5.0%$53.00 $55.36 4.5%$44.49 $49.45 11.1%$61.59 $62.18 1.0%
Cayuga County $11.87 $11.13 -6.2%$3.63 $4.38 20.6%$3.12 $3.69 18.3%$5.11 $3.05 -40.3%
Auburn City $2.72 $2.59 -4.8%$0.92 $0.96 3.7%$0.80 $0.85 5.4%$0.99 $0.79 -20.8%
Cortland County $9.15 $9.41 2.9%$2.94 $3.26 11.0%$2.51 $2.84 13.2%$3.70 $3.32 -10.4%
Madison County $8.87 $9.25 4.2%$2.69 $3.05 13.3%$2.28 $2.63 15.5%$3.90 $3.57 -8.5%
Oneida City $1.55 $1.53 -1.5%$0.48 $0.57 18.7%$0.40 $0.48 21.5%$0.67 $0.47 -29.5%
Onondaga County $106.7 $113.8 6.7%$36.73 $36.96 0.6%$30.60 $33.31 8.9%$39.37 $43.58 10.7%
Oswego County $13.86 $14.55 5.0%$4.26 $4.75 11.7%$3.64 $4.33 19.0%$5.96 $5.46 -8.4%
Oswego City $4.38 $4.70 7.3%$1.35 $1.44 6.1%$1.15 $1.32 14.6%$1.88 $1.94 3.6%
Finger Lakes $234.4 $245.8 4.9%$75.75 $83.51 10.2%$64.41 $73.26 13.7%$94.28 $89.05 -5.5%
Genesee County $12.35 $12.95 4.8%$3.81 $4.10 7.8%$3.29 $3.65 11.0%$5.26 $5.20 -1.1%
Livingston County $9.67 $10.75 11.2%$3.18 $3.51 10.2%$2.62 $3.08 17.4%$3.87 $4.17 7.7%
Monroe County $150.3 $156.7 4.2%$49.15 $54.60 11.1%$41.73 $47.49 13.8%$59.46 $54.59 -8.2%
Ontario County $25.76 $27.06 5.0%$8.40 $9.12 8.6%$7.14 $8.18 14.7%$10.23 $9.76 -4.6%
Orleans County $5.30 $5.69 7.4%$1.68 $1.82 8.7%$1.43 $1.61 12.6%$2.19 $2.26 3.0%
Seneca County $7.06 $7.80 10.5%$2.38 $2.42 1.5%$2.06 $2.25 9.1%$2.62 $3.13 19.7%
Wayne County $14.25 $14.84 4.1%$4.41 $4.91 11.3%$3.84 $4.32 12.6%$6.00 $5.61 -6.6%
Wyoming County $5.47 $5.72 4.5%$1.64 $1.72 5.4%$1.41 $1.55 9.9%$2.42 $2.44 0.7%
Yates County $4.22 $4.33 2.6%$1.10 $1.31 18.2%$0.89 $1.13 26.8%$2.22 $1.89 -14.8%
Long Island $809.9 $837.7 3.4%$267.2 $290.0 8.5%$219.7 $255.0 16.1%$323.1 $292.7 -9.4%
Nassau County $370.1 $384.3 3.8%$123.3 $133.4 8.2%$101.8 $117.5 15.5%$145.1 $133.4 -8.1%
Suffolk County $439.3 $452.4 3.0%$143.8 $156.4 8.7%$117.8 $137.3 16.6%$177.8 $158.8 -10.7%
Mid-Hudson $570.5 $560.1 -1.8%$187.7 $205.0 9.2%$153.3 $177.9 16.0%$229.5 $177.3 -22.8%
Dutchess County $65.21 $60.39 -7.4%$19.91 $22.35 12.3%$16.54 $19.40 17.3%$28.76 $18.64 -35.2%
Orange County $86.97 $90.61 4.2%$29.92 $31.43 5.0%$23.09 $28.38 22.9%$33.96 $30.80 -9.3%
Putnam County $19.47 $20.61 5.8%$6.17 $6.67 8.2%$5.05 $5.98 18.5%$8.25 $7.95 -3.6%
Rockland County $70.46 $67.60 -4.1%$23.72 $24.87 4.8%$19.12 $21.58 12.9%$27.62 $21.15 -23.4%
Sullivan County $14.43 $15.05 4.3%$4.48 $5.01 12.0%$3.63 $4.30 18.5%$6.33 $5.74 -9.4%
Ulster County $38.38 $39.30 2.4%$11.64 $13.16 13.1%$10.09 $11.58 14.8%$16.65 $14.55 -12.6%
Westchester County $214.8 $205.0 -4.5%$71.03 $79.25 11.6%$58.43 $67.44 15.4%$85.29 $58.30 -31.6%
Mount Vernon City $7.11 $7.14 0.5%$2.45 $2.48 1.3%$1.94 $2.24 15.6%$2.72 $2.42 -11.0%
New Rochelle City $9.55 $9.74 2.0%$2.98 $3.32 11.6%$2.47 $2.99 21.4%$4.11 $3.43 -16.6%
White Plains City $13.78 $14.36 4.2%$5.14 $5.22 1.6%$4.27 $4.13 -3.3%$4.37 $5.01 14.6%
Yonkers City $29.83 $29.66 -0.6%$10.05 $10.96 9.0%$8.53 $9.62 12.8%$11.24 $9.08 -19.3%
5 May 2023 Division of Local Government and School Accountability
Appendix: Sales Tax Collections by Region, First Quarter (January - March)
Region City/ County
First Quarter (Jan-Mar)January February March
2022
(millions)
2023
(millions)
Percentage Change 2022
(millions)
2023
(millions)
Percentage Change 2022
(millions)
2023
(millions)
Percentage Change 2022
(millions)
2023
(millions)
Percentage Change
Mohawk Valley $83.6 $88.8 6.3%$26.20 $29.01 10.7%$22.17 $25.96 17.1%$35.20 $33.85 -3.8%
Fulton County $6.63 $6.79 2.4%$2.05 $2.26 9.8%$1.72 $1.99 15.6%$2.86 $2.55 -10.8%
Gloversville City $1.07 $1.10 2.9%$0.38 $0.39 4.3%$0.32 $0.35 11.8%$0.38 $0.36 -5.8%
Johnstown City $1.29 $1.32 2.3%$0.37 $0.45 20.8%$0.32 $0.38 17.4%$0.60 $0.49 -17.4%
Hamilton County $0.98 $0.97 -1.4%$0.30 $0.32 9.0%$0.24 $0.28 16.0%$0.44 $0.36 -18.0%
Herkimer County $9.51 $10.53 10.7%$2.95 $3.32 12.6%$2.50 $2.96 18.5%$4.06 $4.25 4.6%
Montgomery County $10.08 $10.96 8.7%$3.15 $3.36 6.7%$2.64 $3.09 17.1%$4.29 $4.50 4.9%
Oneida County $43.53 $46.22 6.2%$13.77 $15.30 11.1%$11.70 $13.81 18.0%$18.06 $17.11 -5.3%
Rome City $2.35 $2.51 6.8%$0.76 $0.82 7.4%$0.67 $0.74 11.7%$0.91 $0.94 2.8%
Utica City $3.26 $3.28 0.8%$1.01 $1.16 14.3%$0.85 $0.93 9.2%$1.39 $1.19 -14.2%
Schoharie County $4.86 $5.14 5.7%$1.46 $1.63 11.6%$1.20 $1.42 17.6%$2.20 $2.10 -4.7%
North Country $76.5 $81.7 6.8%$24.45 $27.41 12.1%$20.84 $24.41 17.2%$31.20 $29.84 -4.4%
Clinton County $16.40 $17.18 4.7%$5.44 $5.87 7.8%$4.73 $5.25 11.0%$6.23 $6.06 -2.7%
Essex County $8.90 $9.45 6.3%$2.86 $3.22 12.6%$2.42 $2.78 14.6%$3.61 $3.46 -4.3%
Franklin County $7.37 $8.10 9.9%$2.29 $2.66 15.8%$1.94 $2.42 24.7%$3.13 $3.03 -3.5%
Jefferson County $22.34 $23.06 3.2%$6.99 $7.70 10.2%$5.95 $6.85 15.0%$9.39 $8.51 -9.4%
Lewis County $3.97 $4.17 5.2%$1.10 $1.31 19.3%$0.94 $1.15 21.8%$1.93 $1.72 -10.9%
St. Lawrence County $17.43 $19.19 10.1%$5.76 $6.45 11.8%$4.84 $5.79 19.5%$6.82 $6.96 2.0%
Ogdensburg City NA $0.50 NA NA $0.21 NA NA $0.17 NA $0.09 $0.11 30.6%
Southern Tier $133.6 $136.8 2.4%$42.24 $47.06 11.4%$36.00 $42.05 16.8%$55.36 $47.68 -13.9%
Broome County $44.48 $43.41 -2.4%$13.82 $15.97 15.6%$12.01 $14.37 19.6%$18.64 $13.07 -29.9%
Chemung County $17.49 $18.81 7.6%$6.12 $6.37 4.0%$5.03 $5.60 11.4%$6.34 $6.84 8.0%
Chenango County $7.33 $7.53 2.7%$2.30 $2.44 5.7%$1.84 $2.18 18.6%$3.18 $2.91 -8.6%
Norwich City $0.61 $0.70 13.3%$0.18 $0.22 24.4%$0.14 $0.19 36.4%$0.29 $0.28 -4.5%
Delaware County $7.35 $7.32 -0.4%$2.01 $2.53 26.0%$1.79 $2.19 22.8%$3.55 $2.59 -27.1%
Otsego County $10.38 $11.04 6.3%$3.26 $3.53 8.3%$2.82 $3.12 10.5%$4.30 $4.39 2.1%
Schuyler County $2.86 $3.19 11.7%$0.88 $0.97 10.5%$0.70 $0.87 23.3%$1.28 $1.35 6.0%
Steuben County $17.07 $17.77 4.1%$5.32 $5.78 8.5%$4.47 $5.33 19.3%$7.27 $6.67 -8.4%
Tioga County $7.53 $8.11 7.7%$2.39 $2.61 9.3%$2.14 $2.35 9.8%$3.00 $3.15 4.9%
Tompkins County $15.22 $15.61 2.5%$4.96 $5.43 9.5%$4.19 $4.83 15.3%$6.07 $5.34 -11.9%
Ithaca City $3.27 $3.31 1.3%$0.99 $1.21 21.7%$0.85 $1.02 20.9%$1.43 $1.08 -24.4%
Western New York $320.0 $339.1 6.0%$103.8 $116.5 12.2%$87.03 $103.5 18.9%$129.1 $119.1 -7.8%
Allegany County $7.09 $7.19 1.3%$2.15 $2.42 12.7%$1.99 $2.17 9.2%$2.95 $2.59 -12.2%
Cattaraugus County $12.33 $12.50 1.4%$3.88 $4.30 10.8%$3.36 $3.68 9.6%$5.09 $4.52 -11.2%
Olean City $1.31 $1.25 -4.6%$0.44 $0.45 1.7%$0.36 $0.35 -3.0%$0.51 $0.45 -11.3%
Salamanca City $0.21 $0.22 2.3%$0.074 $0.074 1.1%$0.057 $0.065 14.1%$0.084 $0.081 -4.6%
Chautauqua County $19.79 $21.45 8.4%$6.36 $6.77 6.5%$5.46 $5.99 9.8%$7.97 $8.68 9.0%
Erie County $240.0 $253.9 5.8%$78.35 $88.01 12.3%$65.11 $78.56 20.7%$96.52 $87.32 -9.5%
Niagara County $36.88 $39.97 8.4%$11.79 $13.58 15.1%$10.05 $11.92 18.5%$15.03 $14.48 -3.7%
New York City $2,231.1 $2,482.9 11.3%$775.4 $843.6 8.8%$643.3 $717.8 11.6%$812.4 $921.5 13.4%
Other Local $323.0 $354.4 9.7%$105.5 $113.8 7.9%$87.39 $97.10 11.1%$130.1 $143.5 10.3%
Statewide Total $5,165.2 $5,533.8 7.1%$1,734.4 $1,893.8 9.2%$1,435.9 $1,638.8 14.1%$1,995.0 $2,001.2 0.3%
Source: Tax and Finance, with calculations by OSC.
Notes: Collections data can reflect technical adjustments and other administrative issues, quarterly reconciliation, as well as changes in tax rates,
which may require care when analyzing changes over time. The City of Ogdensburg began imposing its own sales tax at a rate of 4 percent starting
in March 2022. Collections include distributions made to counties and cities that impose a paper carryout bag reduction fee. The cities included in the
above table impose their own sales tax instead of receiving a share of what their respective counties collect. "Other Local" includes sales taxes collected
on behalf of the New York Convention Center Development Corporation, the Mass Transportation Operating Assistance Fund, the Metropolitan Transit
Authority Aid Trust Account and school districts. Regional totals do not include taxes collected for these purposes, but do include collections for cities
that impose a segmented sales tax on consumer utilities or hotel occupancy. Tax and Finance reports the "gross" local sales tax collections for each
county, not adjusting for any money withheld for AIM-related payments or Distressed Provider Assistance. For more details on these withholdings, go to
www.osc.state.ny.us/local-government/data/county-sales-tax-distributions-and-withholdings.
6 Office of the New York State Comptroller May 2023
1 Unless otherwise noted, all sales tax collections data in this report are taken from the New York State
Department of Taxation and Finance’s (Tax and Finance) Revenue Distribution Certification (AS001 Report), at
www.tax.ny.gov/research/stats/statistics/sales_tax/government/as001.htm. The sales tax distributions
that counties and cities receive from the State in any given month may reflect sales tax payments remitted to the
State from registered vendors – including businesses that operate partially or entirely online, along with brick-
and-mortar establishments – over several sales tax liability periods. For monthly sales tax activity by liability
period, see Tax and Finance, Monthly Sales Tax Activity by Liability Period, All Collections (ST10TC Report), at
www.tax.ny.gov/research/stats/statistics/sales_tax/government/st10tc.htm; Tax and Finance periodically
adjusts its methodology for estimating monthly distributions to improve the accuracy of its monthly estimates.
For more information on distribution adjustments (also referred to as “quarterly reconciliation”), see “Frequently
Asked Questions,” at www.tax.ny.gov/research/stats/statistics/sales_tax/government/transparency_
reports_list.htm.
2 This was the average statewide annual growth rate from 2010 to 2019.
3 U.S. Bureau of Labor Statistics, “CPI for All Urban Consumers (CPI-U), U.S. city average, All items,” at
https://data.bls.gov/cgi-bin/surveymost?cu.
4 Federal Reserve Bank of St. Louis, “FRED Economic Data: Real Personal Consumption Expenditures, at
https://fred.stlouisfed.org/series/PCEC96.
5 OSC, Review of the Financial Plan of the City of New York, February 2023, at www.osc.state.ny.us/files/
reports/osdc/pdf/report-16-2023.pdf; Federal Reserve, “Beige Book,” at www.federalreserve.gov/
monetarypolicy/publications/beige-book-default.htm; and U.S. Embassy and Consulates in China,
“COVID-19 Information,” January 27, 2023, at https://china.usembassy-china.org.cn/covid-19-information/.
6 "Rest of State" includes all counties and cities located outside of New York City; however, it does not include
local sales taxes collected on behalf of the New York Convention Center Development Corporation, the Mass
Transportation Operating Assistance Fund, the Metropolitan Transit Authority Aid Trust Account and school districts.
7 The City of Ogdensburg did not begin imposing its own sales tax until March 2022.
8 As used in this report, the term “technical adjustments” refers to any of a number of collection or distribution corrections
made by Tax and Finance that are not related to current economic activity, such as late filings or errors caught on
later audits. To access this data, see Tax and Finance, Monthly and Quarterly Cash and Collection Distributions With
Variances for Assessments, Late-Filed Returns, Rate Adjustments and Prior Period Adjustments (AS300 and AS310
Reports), at www.tax.ny.gov/research/stats/statistics/sales_tax/government/reports_list.htm.
Notes
7 May 2023 Division of Local Government and School Accountability
Division of Local Government
and School Accountability
110 State Street, 12th Floor, Albany, NY 12236
Tel: 518.474.4037 • Fax: 518.486.6479
Email: localgov@osc.ny.gov
www.osc.state.ny.us/local-government
Technical Assistance is available at any of our Regional Offices
BINGHAMTON REGIONAL OFFICE
Tel 607.721.8306 • Fax 607.721.8313 • Email Muni-Binghamton@osc.ny.gov
Counties: Broome, Chemung, Chenango, Cortland, Delaware, Otsego, Schoharie, Tioga, Tompkins
BUFFALO REGIONAL OFFICE
Tel 716.847.3647 • Fax 716.847.3643 • Email Muni-Buffalo@osc.ny.gov
Counties: Allegany, Cattaraugus, Chautauqua, Erie, Genesee, Niagara, Orleans, Wyoming
GLENS FALLS REGIONAL OFFICE
Tel 518.793.0057 • Fax 518.793.5797 • Email Muni-GlensFalls@osc.ny.gov
Counties: Albany, Clinton, Columbia, Essex, Franklin, Fulton, Greene, Hamilton, Montgomery,
Rensselaer, Saratoga, Schenectady, Warren, Washington
HAUPPAUGE REGIONAL OFFICE
Tel 631.952.6534 • Fax 631.952.6530 • Email Muni-Hauppauge@osc.ny.gov
Counties: Nassau, Suffolk
NEWBURGH REGIONAL OFFICE
Tel 845.567.0858 • Fax 845.567.0080 • Email Muni-Newburgh@osc.ny.gov
Counties: Dutchess, Orange, Putnam, Rockland, Sullivan, Ulster, Westchester
ROCHESTER REGIONAL OFFICE
Tel 585.454.2460 • Fax 585.454.3545 • Email Muni-Rochester@osc.ny.gov
Counties: Cayuga, Livingston, Monroe, Ontario, Schuyler, Seneca, Steuben, Wayne, Yates
SYRACUSE REGIONAL OFFICE
Tel 315.428.4192 • Fax 315.426.2119 • Email Muni-Syracuse@osc.ny.gov
Counties: Herkimer, Jefferson, Lewis, Madison, Oneida, Onondaga, Oswego, St. Lawrence
STATEWIDE AUDIT
Tel 607.721.8306 • Fax 607.721.8313 • Email Muni-Statewide@osc.ny.gov
Andrea C. Miller Executive Deputy Comptroller
Executive • 518.474.4037
Elliott Auerbach, Deputy Comptroller
Simonia Brown, Assistant Comptroller
Randy Partridge, Assistant Comptroller
Audits, Local Government Services and
Professional Standards • 518.474.5404
(Audits, Technical Assistance, Accounting and Audit Standards)
Local Government and School Accountability
Help Line • 866.321.8503 or 518.408.4934
(Electronic Filing, Financial Reporting, Justice Courts, Training)
Division of Legal Services
Municipal Law Section • 518.474.5586
New York State & Local Retirement System
Retirement Information Services
Inquiries on Employee Benefits and Programs
518.474.7736
BUFFALO
BINGHAMTON
ROCHESTER
SYRACUSE GLENS FALLS
NEWBURGH
HAUPPAUGE
osc.state.ny.us
Contacts
Like us on Facebook at facebook.com/nyscomptroller
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Contact
Office of the New York State Comptroller
Division of Local Government and School Accountability
110 State Street, 12th floor
Albany, NY 12236
Tel: (518) 474-4037
Fax: (518) 486-6479
or email us: localgov@osc.ny.gov
www.osc.state.ny.us/local-government
FUNDS JANUARY FEBRUARY MARCH APRIL MAY TOTAL Budget Variance
General Fund 34,322.20$ 53,409.18$ 44,688.56$ 41,194.10$ 173,614.04$ 133,066.00 40,548.04
General Part-Town Fund 7,567.53 6,067.56 7,526.08 7,005.33 28,166.50 54,603.00 (26,436.50)
Highway Fund - DA 3,307.22 3,779.34 4,622.28 4,195.99 15,904.83 24,394.00 (8,489.17)
Highway Part-Town Fund - DB 12,676.69 11,543.65 17,677.86 16,843.53 58,741.73 65,044.00 (6,302.27)
Water Fund 8,530.13 10,152.70 11,313.88 12,184.00 42,180.71 44,191.00 (2,010.29)
Sewer Fund 10,421.57 10,524.00 10,084.56 11,802.96 42,833.09 78,949.00 (36,115.91)
Risk Retention Fund 509.30 510.73 556.96 537.18 2,114.17 2,600.00 (485.83)
Fire Protection Fund 12,246.50 17,285.44 19,132.06 17,241.89 65,905.89 50,183.00 15,722.89
Debt Service Fund 1,411.69 1,519.52 1,686.19 1,685.89 6,303.29 500.00 5,803.29
Light District Funds 114.21 52.01 18.44 87.90 272.56 - 272.56
TOTAL - Operating Accounts 91,107.04$ 114,844.13$ 117,306.87$ 112,778.77$ -$ 436,036.81$ 453,530.00 (17,493.19)
Investment Balance Interest Rate Maturity
Savings 620,368$ 3.00%n/a
CD - 12 Mos.8,187,602 3.85%7/4/2023
CD - 12 Mos.5,074,825 4.50%12/27/2023
CD - 12 Mos.5,037,564 4.60%2/13/2024
CD - 24 Mos.53,886 0.35%10/25/2023
NYCLASS 12,042,817 4.74%n/a
TOWN OF ITHACA - INTEREST INCOME FOR FY-2023
Investments
as of 5/3/2023
FUND TCB 7397 TCB 5130 TCB 1254 TCB 3303
7/5/2022 11/2/2023 12/28/2022 2/14/2023
General Fund 1,325,647$ 2,435,916$ 2,015,026$ 5,776,589$
General Part-Town Fund 511,725 503,756$ 1,015,481$
Highway Fund 511,725 101,496$ 201,503$ 814,724$
Highway Part-Town Fund 1,535,175 405,986$ 403,005$ 2,344,166$
Highway Equipment Reserve 408,845 408,845$
Water Fund 818,760 304,490$ 604,508$ 1,727,757$
Sewer Fund 511,725 403,005$ 914,730$
Sewer - SJC Account 511,725 403,005$ 914,730$
Risk Retention Fund 152,494 152,494$
Fire Protection Fund 614,070 1,522,448$ 503,756$ 2,640,274$
Debt Service Fund 358,208 358,208$
Lighting District Funds - -$
Cash Reserve (231):-$
NYSEG Letter of Credit - CD 53,886$ 53,886$
Open Space Plan Reserve 511,725 260,846$ 772,571$
Land Preserve Maint. Reserve 42,729 42,729$
Land Stewardship Reserve 10,234 10,234$
Inlet Valley 4,606 4,606$
General Benefit Reserve - A 157,611 157,611$
General Benefit Reserve - B 78,806 78,806$
General Benefit Reserve - DB 82,388 82,388$
General Benefit Reserve - F 21,492 21,492$
General Benefit Reserve - G 17,910 17,910$
-$
LVC Escrow - Perm Maint 31,464$ 31,464$
LVC Escrow - Ferris Memorial 12,180$ 12,180$
TOTAL - ALL ACCOUNTS 8,187,602$ 53,886$ 5,074,825$ 5,037,564$ 18,353,877$
Certificate of Deposit
5/1/2023