Yonkers Mayor Mike Spano today unveiled his proposed the Fiscal Year 2022-2023 Executive Budget. The budget increases funding to Yonkers Public Schools and it remains the majority of the city’s spending. There are no cuts to the city workforce or services, but there is a 2.9% increase in taxes.
“This budget prepares us for our future”Mayor Mike Spano
The budget breaks down $680 million for the Board of Education and the municipal operating budget is $687 million. Federal funding from the American Rescue Plan Act contributes $43.7 million to that budget.
Mayor Spano again touts the increased economic development in the city while presenting this budget to the City Council. Lionsgate Studio and MGM Casinos are, for Spano, harbingers of even more development that was the foundation of Yonkers recently becoming New York’s third-largest city.
While optimistic, Spano also cautioned that “If we’re not mindful about the money we spend, replacing the money as we move forward, we could end up in the same situation we were in back in 2011.”
The City Council will soon review and are required to pass a final budget by June 1.