Purpose of Budget Review

The purpose of our budget review was to determine whether the significant revenue and expenditure projections in the Village’s tentative budget for the 2016-17 fiscal year are reasonable.

Background

The Village of Suffern, located in Rockland County, issued debt totaling $5 million to liquidate the accumulated deficit in the Village’s general, water, sewer and capital projects funds as of May 31, 2015. Local Finance Law requires all local governments that have been authorized to issue obligations to fund operating deficits to submit their tentative budgets for the next fiscal year to the State Comptroller for review while the deficit obligations are outstanding.

Key Findings

• Significant revenue and expenditure projections in the tentative budget are reasonable.
• The tentative budget complies with the tax levy limit.

Key Recommendations

• There were no recommendations in this budget review letter.