North Hempstead Town Supervisor Judi Bosworth submitted her tentative budget for 2018 to the town board and the town clerk. The tentative budget does not increase the town’s General Fund tax levy and includes a reduction in expenditures in the General Fund. 
It calls for an increase of 1.84 percent in the Town Outside Village Fund, reflecting increased resources devoted to the Building Department and Highways Division. The 2018 Tentative Budget stays within the New York State tax cap and will include no cuts to services for residents. Bosworth and the town board have committed that the final budget will be voted on Nov. 1, prior to Election Day.
The town’s 2018 budget includes a $66.9 million General Fund, a $36.4 million Town Outside Village (TOV) Fund and $26.3 million for the 20 town–operated special districts.
“This budget reflects the collective effort of our commissioners and department heads as well as our finance team who crafted a budget that stayed under the tax cap,” said Bosworth. “The town has received a Aaa bond rating, just reaffirmed this month, because of our conservative and careful guardianship of taxpayer funds. The new budget continues to hold the line on spending and I commend our commissioners for working with the dedicated finance team to make this budget happen. I am committed to responsibly providing town residents with the services they deserve.”
In September 2017, the town’s Aaa was reaffirmed by Moody’s with a stable outlook. The town is benefiting from lower interest rates on borrowing due to the Aaa rating, which is the highest in the town’s recent history and the highest a municipality can obtain.
“With these positive ratings the town is able to get lower interest rates on bonds which will ultimately result in savings for taxpayers,” said Bosworth.
Budget hearings will be held Oct. 16 and 24 at 7 p.m. and are open to the public. A closed work session with the board will be held on Oct. 11 at 10 a.m. A vote on the budget by the town board will also take place at a meeting on Nov. 1.
