Cortlandt Town Supervisor Linda Puglisi has released her proposed budget for 2011. It's a nearly $36 million spending plan that calls for a 2.4% town tax increase for unincorporated Cortlandt, a 3.4% Town Tax increase for the Village of Buchanan and a 4% Town Tax increase for the Village of Croton-on-Hudson. The increases for the latter two would amount to $5.35 and $7.87 a year, respectively.

According to Puglisi, the spending increase amounts to just .25% over 2010's budget. The increases are the result of higher costs for fuel, gasoline, supplies, pension funds and health benefits as well as negotiated salary increases with unionized workers in the town.  Savings was realized in 2010, she says, due to the fact that all Town employees and elected officials did not receive a salary increase.

Like many municipalities, the difficult economy is taking a toll on the Town of Cortlandt.

Projection for Sales Tax Revenues are down $3.6 million, down $1.1 million in Mortage Tax Revenue and $205,000 lower in State Revenue Sharing.

Puglisi says despite the lower revenue projections, the Town has $9.8 million dollars in its Fund Balance $3.8 million in its Reserve Accounts and Surpluses of more than $5.7 million. Not included in the numbers are State,Federal and County Grants, which the Town actively persues and applies for.

The Supervisor says she's proud of her low tax rate record for the Town, less than 1% over the past 20 years. She attributes the savings to good fiscal management including consolidation of departments, regional planning and shared services with neighboring communities.

In addition, she says the Town's bond rating was rated Aa2 by moody's at the end of 2010 due to an excellent financial evaluation. She says Cortlandt is one of only a few towns in Westchester County that have such a superior bond rating.

The spending plan now goes before the Cortlandt Town Board for possible revisions and approval.