Village Releases Details on 2012-13 Budget Adoption

This week, Mayor William Hendrick addressed the recent April 27 adoption of the village's 2012-13 budget, which comes in at $34,067,420, whittled down $1,352,296 from the .

According to the village at this Monday's board meeting, statewide premiums for employee and police pensions and health insurance are accounting for the inflated 2012-2013 budget.

The village's 2011-12 budget came in at $33.4 million, which puts this year's budget at 2 percent increase over last year.

However, Village Administrator John Giordano said during the meeting that the 2012-13 tax levy increase has not yet been calculated.

Initial figures about this year's budget had residents concerned about the amount it would increase, but Hendrick said the initial numbers were only "tentative" and that it would not be adopted at such a high number.

"It's going to go down further … reducing every department and getting more for less," Hendrick said in April.

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The tax rate of the current budget will be $17.14 per $100 of assessed valuation.

The village's overall accessed valuation is down .3 percent. Expenses were up 2.2 percent and revenues were down 3.2 percent.

Hendrick said that the Village of Lynbrook is on solid ground, financially speaking, and will continue to be so for the foreseeable future.

"We've maintained our AA rating because of our healthy surplus of $4.1 million dollars and we have a $900,000 contingency fund to take care of any problems we may encounter in the upcoming year," he said. "The village is healthy, it is going forward, and there will be no cuts to any services for residents."

A copy of the adopted 2012-2013 budget is available on the village's website.