Friday, November 6, 2026

The Word on the Proposed 2027 Budget

At the beginning of this afternoon's Board of Estimate and Apportionment session, Mayor Joe Ferris asked City Treasurer Heather Campbell to review "where we stand." Campbell reported that projected revenues for 2027 were $16,673,584 and projected expenditures were $16,612,514. This was assuming a 3.16 percent increase in property taxes.

By the end of the session, the BEA had balanced the budget by reducing the anticipated lodging tax to eliminate the projected three months' of collecting lodging tax at 7 percent, since it is not entirely certain that an increase beyond 5 percent would be approved by the New York State Legislature. 

The BEA will present the budget to the Common Council on Monday, November 9, at 6:00 p.m., at City Hall, after which it will be available online for all to scrutinize.
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2 comments:

  1. John K. FriedmanNovember 6, 2026 at 3:32 PM

    Interesting that they reduced their projection -- and both rational and correct. This is the big issue that the Council needs to be clear on: how did the BEA determine estimated revenue given that its expectations in the most recent half decade have been wildly too high.

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    1. Tassilo Max von ParsevalNovember 7, 2026 at 12:19 AM

      Isn't overestimating revenue the only way how budgets can wind up falling short, considering that they always start out balanced on paper?

      Always interesting to see that it's the revenues that tend to fall short rather than the expenditures.

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