MOUNT VERNON, N.Y. – For the 19th consecutive year, Mount Vernon officials can boast that the city budget ended with a surplus of funds, after saving nearly $4 million from operations last year.
According to Mount Vernon Comptroller Maureen Walker, due to “better than expected revenues, combined with lower spending,” the city generated a budget surplus of $3.9 million from operations for the calendar year that ended on Dec. 31 of last year.
In the 2013 calendar year, the actual revenue generated through the city exceeded the budgeted revenue by more than $2.5 million, while expenditures were more than $1 million below the projection.
The biggest positive variances in last year’s budget ranged from sales tax ($1.48 million), to property tax ($452,400) and federal aid ($294,595). The city also saved money on general government support ($500,000) and public safety ($365,000).
This marks the largest budget surplus in Mount Vernon since 2011, when the city generated an extra $4.5 million. This year’s surplus is more than $1 million greater than last year’s $2.85 million surplus.
A budget surplus is valuable for local governments, as it allows municipalities to pay off debt, save the funds for the future or immediately upgrade city infrastructure where it is needed. It remains unclear what Mount Vernon officials have planned for the surplus.
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