CROTON-ON-HUDSON – The Village of Croton-on-Hudson completed the 2023 fiscal year with a general fund balance of just under $12.7 million, an increase of over $3.7 million since last year, according to its accounting firm.
While $2 million of the fund balance resulted from the same of village-owned property on Maple Street, the operating budget saw a surplus of over $1.7 million, due on part to an increase in non-property tax revenues including sales, court fines and forfeitures.
“The ability to have such a robust fund balance has allowed the village to set aside for future capital needs, such as the purchase of a new ladder truck for the Croton-on-Hudson Fire Department,” said Village Manager Bryan Healy. “Purchasing this piece of equipment using cash on hand, as opposed to financing through a debt issuance, will bring substantial savings to the village as interest payments will not need to be budgeted.”
