The proposed plan consists of across the board municipal cuts while sustaining the Board of Education at its current level.
"This year's budget is a difficult one, filled with difficult decisions," said Mayor Mike Spano. "However, in order to stop the bleeding, I believe I am proposing a fair and honest budget - staying within the state-mandated tax cap, preserving the Yonkers Public Schools, while not raiding the City's fund balance."
Spano also said the tax rate will increase by 3.72%, while cutting expenses throughout city departments.
The 2013 FY budget includes 112 fewer positions, down from from a total of 1753 positions. Most City departments will see 5-10% in reductions. These reductions include:
"Layoffs come as a last resort as I propose the Executive Budget, with the goal of eliminating the projected $89.3 million shortfall. However, with more than 70% of the City's expenses going towards salaries and benefits, the one major step in balancing the budget is to reduce our personnel costs," Spano said.
This year's Executive Budget also preserves the 2011-12 fund balance, which is described by city officials as a critical first step toward reversing the recent downgrade in the City's bond rating.
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