Yorktown 2020 Audit: Spending Down, Savings Up

Yorktown’s financial auditor who reviewed 2020’s financial records found that the Town’s savings rose $3.3 million while spending decreased $4.1 million.

The reduced spending led to lower taxes.

“You reduced the levy,” said Alan Kassay of O’Connor Davies, who noted that sales taxes also increased. “One reason being is because you budgeted conservatively, which is a smart thing to do.”

Supervisor Matt Slater said the Town Board took immediate action when the pandemic shutdown hit the region in March 2020.

“This report validates how well our team managed an unprecedented situation," said Supervisor Slater. "As soon as the national health emergency closed our community, we became very restrained in our spending. We also began planning a responsible 2021 budget that kept Yorktown affordable for our taxpayers and businesses.”

The reduction in spending can be directly attributed to Culture and Recreation due to the cancellation of all seasonal scheduled and summer camp programming, as well as limited openings at both Town pools, according to the audit by O’Connor Davies. General Government Support and Public Safety also saw reductions in the purchases of equipment, as well as benefits (overtime, retirement, workers’ compensation).

“Your total expenditures were down about $4.1 million,” said Kassay. “Some if it was related to Covid and some of it was related to the actions of the board and the Finance Department and controlling the department heads.”

Among other conclusions:

• The auditors found no significant deficiencies or material weaknesses in internal controls.
• Debt outstanding is equal to 3.27 percent of the total legal debt limit.
• All special districts are in the black.

Yorktown’s 2020 revenue losses attributable to the pandemic totaled $5.5 million. The losses included recreation fees, fines, bail, inspections and state aid.

In December, the Town Board adopted a $60.8 million 2021 budget that increased just $18,842 from the 2020 adopted budget. This year’s budget included significant spending reductions in equipment, medical expenses, part-time salaries and retirement.

Despite the 2021 budget’s fiscal restraint, Yorktown continued to invest in the future by allocating $600,000 for a relining of water pipes and $50,000 for additional road paving.

Yorktown also enjoyed significant private investment throughout 2020:

• Nestle Waters opened a distribution plant.
• Town officials approved a new CVS drugstore.
• A Trader Joe’s will be built next Lowe’s.
• The former Toys ‘R’ Us building will become self-storage.