Fiscal stalemate sends Council into extra innings
OLEAN -- Members of the Olean Common Council could not agree on six different versions of a job and cost-cutting package, continuing a streak of defeats on a $39 million budget proposal offered by Mayor David Carucci on Tuesday night during a special budget meeting.
Aldermen, meeting late Tuesday, agreed to spend all night crafting a budget if necessary.
The April 15 deadline for passage of the 2007-08 budget lapsed Sunday, and City Auditor Janet Jones told the Council that there is only enough cash remaining to meet two payrolls.
If the tax bills don't go out in time, officials anticipate steep drops in revenue, worsening the city's fiscal problems.
The Council recently adopted a $4.3 million deficit-spending bond now awaiting State Legislature approval, to free the city from its accumulated debt load.
Village Board approves budget without changes
LAKEWOOD -- The Lakewood Village Board has approved Mayor Tony Caprino's 2007-08 budget of $2.95 million without any changes.
The unanimous vote came following a public hearing Monday.
The spending plan features a tax levy that is up by $60,000. However, the tax rate remains the same as the current year's -- $7.31 per $1,000 of assessed value.
Lawmakers also approved the final site plan for the new Stateside Toyota dealership on Fairmount Avenue. The $4.7 million project is currently under construction at the former Molly Brown's store.