Village of Mamaroneck Announces Preliminary Audit of 2022-2023 Finances
September 22, 2023 (Mamaroneck, N.Y.) — A preliminary audit of the 2022-2023 Village finances shows the Village of Mamaroneck in excellent financial condition, and in many cases exceeding expectations. This past Wednesday, village officials held a phone call with PKF O’Connor Davies, one of the New York metropolitan area’s premier providers of accounting, auditing, and advisory services for public sector organizations.
The Village of Mamaroenck came in $3.7 million under expenditures and exceeded revenue projections by $2.8 million. Of note were the following:
- Sales tax revenue exceeded estimations by $800,000.
- Permit fees exceeded projections by $400,000.
- Liquidating older purchase orders realized $252,000.
General expenses across most departments came to $1.25 million less than budgeted. Of note were the following:
- Legal expenses came to $172,000 less.
- Engineering costs $206,000 under budget.
- Public safety, after transfers, was $860,000 less than planned.
In addition to the above savings, insurance premiums were reduced by $170,000.
Finally, instead of issuing additional debt, several large projects were appropriated out of general funds.
"Based on our positive fiscal position during the year, Village administration decided to use general fund appropriation to fund the expenditures instead of issuing debt service," said Village of Mamaroneck Clerk/Treasurer Agostino A. Fusco.
"The Village’s positive financial condition has exceeded all expectations," said Village of Mamaroneck Mayor Tom Murphy. "Recently, the Village has concentrated on both enacting cost saving and raising revenue through fees rather than relying on property taxes. I am grateful to staff for their prudence and to my colleagues on the Board of Trustees for their diligence."
"After the devastating floods from the remnants of Hurricane Ida in September 2021, the Village continues to demonstrate that a strong and thoughtful administration has the ability to anticipate new and innovative organizational approaches to improve services, reduces costs, and increase revenue," said Village of Mamaroneck Village Manager Jerry Barberio. "My deepest thanks to all the department heads and staff for their hard work, and for the strong support from the Village’s Board of Trustees."
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