The Town of Cortlandt tax is 11 percent of a resident's annual tax bill—about 69 percent of which is allocated to schools, 15 percent to the county and the rest for special districts—according to the six-month financial report for 2013.
Fund balances as of this month are listed in the document, which is available online. Total funds and reserves are listed at about $11.3 million.
"Our excellent bond rating of Aa2 determined by Moody's remains the same due to our good financials and low debt," the report states, referring to the credit rating agency.
The majority of the debt is associated with "large water capital projects," according to the document.
The report also notes the town board's approval for the purchase of five new vehicles—one for highway, one for sanitation, one for snow and two for water—for a total of $600,000. The money will come from the town, not from borrowed funds.
Read the report here, and share your thoughts.
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