NEW ROCHELLE, N.Y. – With finalized fiscal figures finally available from 2014, New Rochelle has a decidedly more favorable outlook moving forward than many cities its size.
After nearly a decade of tightening bootstraps and exercising fiscal responsibility while the economy tanked and subsequently recovered, the city experienced a positive, $2.5 million variance as opposed to estimates in the budget that was adopted in December.
According to New Rochelle Mayor Noam Bramson, the city saved more than $1 million in basic operational savings, with sales and mortgage tax revenues accounting for nearly $500,000 in additional revenue, while overall volume sales reached a record high in 2014.
Bramson noted that despite harsh economic times, the city has remained viable, and while it is uncertain, the future looks promising for New Rochelle.
“The city’s multi-year budget projections are also looking brighter, although these kinds of long term predictions are inherently uncertain, with lots of unknown variables,” he said.
“The new figures testify to New Rochelle’s emergence from the painful effects of the great recession, but even with the fiscal crisis behind us, our budgets remain very lean. Continued efficiency and prioritization are still essential going forward.”
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