White Plains CitizeNetReporter - Complete City Financials On File With the State For the Record

BULLETIN: WPCNR FOR THE RECORD. From the Department of the Budget. New York State. October 11, 2007 UPDATED 5:10 PM EDT: The WPCNR NewsLab has created a printable version of the documents shown in the first edition of this article, for those wishing their own personal copies of the projected White Plains 2008 through 2011 forecast budgets filed with the Department of the Budget.... Simply click on this link: http://www.wpcnr.com/images/pdf/wp_101107.pdf
Though the Mayor has released the forecast portion of the financial statements on file with the Department of the Budget, there is more to the documents. The city supplied a complete accounting of revenue sources and expenses. WPCNR, as a public service to those councilpersons and state legislators and citizens who have not had access to these projections to date, herewith publishes these missing pages. The first page is the Projections page, already published:

The footnotes read: Fiscal year 2007-2008 represents 2007-08 proposed budget. Property tax rate assumed at 7% each year, assessment roll assumed to remain at current $289.9 Million with the exception of additional assessments as indicated below. Property tax increased 10% in fiscal year 2008-2009 to account for two PILOTS returning to the Assessment roll. In accordance with the City Charter, succeeding year revenues cannot be budgeted above prior year actual totals. As such fund balance is budgeted, but not used. Other Debt proceeds reflects the potential bonding of certain tax certs in fiscal year 2007-2008 and 2008-2009 subject to Common Council approval. This will only be done if needed. Debt service payments for potential bonding of tax certs included in the event that the financing does occur. The City currently has various new revenue initiatives in the development stage that are not included in this Plan. If revenue enhancements are approved, plan will need to be modified accordingly and bonded(SIC) of tax certs will be eliminated. Parking Rate increases in 2007-2008 and 2010-11 per City Policy


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