HomeMy WebLinkAboutBudget-Workshop-AgendaVILLAGE OF CAYUGA HEIGHTS
BUDGET WORKSHOP
FISCAL YEAR ENDING MAY31,2024
MARCH 25, 2023
AGENDA
1. Department Heads' Proposed Budgets
■ Fire Department (General Fund) 9:00 a.m.
■ Police Department (General Fund) 9:15 a.m.
■ Administration (General Fund) , 9:30 a.m.
■ Public Works (General, Water, Sewer Funds) 9:45 a.m.
2. Constitutional Tax Limit and Property Tax Cap, Proposed Local Law D
Tax Limit -- Maximum amount of real property tax that can be levied in a year: This is a
calculation based on a five year average of Taxable Assessed Value, the tax limit percentage
(2% for villages), the tax levy, and exclusions such as debt.
Tax Cap (aka Tax levy Limit) - this is what VCH is allowed to raise in taxes. It's the lower of
2% or the state -set rate of inflation (1.02% for FY2024). We can override the tax cap with a
local law. (Proposed Local Law D)
3. Real Property Assessed Value, Tax Levy, and Tax Rate
Real Property Assessed Value (or Taxable Assessed Value) —comes from the county. See
2022 Final Village Assessment Roll sheet. Grand total of TAV for this budget is 482,070,090
Tax Levy— how much revenue we plan for in taxes
Tax Rate —the percentage that the tax levy is compared the the TAV.
4. Fund Balances
5. ARPA Funds
6. Debt
7. Capital Projects
8. Executive Session - Salaries & Wages