Cold Winter to Impact Mount Kisco Finances

With all of the January snow, many towns and villages have already spent their budget for snow removal. Mount Kisco, due to conservative budgeting, still has a good part of its budget remaining. The village has, however, spent over half its budget through the end of January. The Village of Mount Kisco budgeted $235,000 for snow removal, $20,000 more than was required last year. To keep our taxes low, let’s all hope for a mild March.

When snow falls, Mount Kisco loses money from lost parking meter revenue as cars cannot access spaces and meters are inoperable. Broken meters are a problem, not just in the winter, but in the other seasons as well, due to slow repair times. In the picture below, the note reads “Meter broken again today. Just like yesterday when I called to report.”

For the 2010-2011 fiscal year, Mount Kisco budgeted $465,000 in parking meter revenue. That is 2.5% of the village’s total revenue. The current year’s budget, however, is $68,000 less than the $533,000 collected in 2008-2009, just two years ago. There is no definitive reason for the loss in revenue but broken meters can be a reason. Any loss in revenue in broken parking meters from the winter or any season requires the village to cut services or raise property taxes.

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