Development News for Lewisboro, New York

Town Board Reviews Mid-Year Financial Update, Highlights Budget Status and Capital Spending

The town board reviewed the town's financial update, covering expenses as of the end of May against the 2026 budget. Overall, 64% of the annual budget remained, with 42% spent by the end of May. Specific departments like Parks and Recreation have a higher percentage remaining due to seasonal expenses. The presentation detailed both town-wide expenses (hospital, medical benefits, retirement, payroll taxes, debt service) and departmental expenses. Discussions also touched on capital assets, depreciation, and the town's financial strategy involving debt versus cash, fund balance usage, and cash flow management. The town has used $1.4 million of its fund balance for capital purchases since the beginning of 2025, including highway trucks, a van, honor and pool bathhouses, a park swing, and police vehicles. The report also outlined franchise revenue from cell towers and cable, and discussed utility expenses, noting an overage in utilities for the highway department, with hopes for savings from a switch to New York Power Authority. Tax receipts and disbursements were also detailed, showing a significant cash inflow in April due to town taxes, with a portion paid to the fire districts and Katona-Lewisboro School District. The town acts as a conduit for these tax payments, making the school district whole in April regardless of resident payments.