The Peekskill Common Council held a work session on Monday, March 16, 2026, at 6:30 PM in the Common Council Chamber. The meeting featured a detailed finance presentation on the 2025 budget-to-actual results, followed by multiple action items including street closures, a park design contract, summer camp bus rental, cannabis regulation updates, police program agreements, and council liaison reports. The meeting concluded with a motion to enter executive session for personnel matters.
The whole meeting for today, March 16th, 2026. We have a finance presentation this evening, as well as um about nine items, and then executive social uh executive session for discussion of matters concerning the medical financial credit or employment history of a particular person, persons, or corporation or matters leading to the appointment, employment, promotion, demotion, discipline, suspension, dismissal, or removal of particular person, persons, or corporations. So at this time, I'm gonna turn it over to our city manager. Good evening, Mayor and Council. Good evening. Uh, we do have a presentation about the budget to actual for um last quarter, and Tony Tracy, our comptroller is going to present information to you. Oops. Good evening, Mayor and Council. Good evening, good evening. So I have uh given you a packet for tonight, and it's for a review of the 2025 adjusted budget versus the actual results of the budget. And so there's a memo detailing the whole thing. Could you just make the screen bigger? Oh, I'm sorry. Sorry about that. It'll enlarge the type bit. Thank you. Okay, does that help or should I see? Much better. Okay. Okay. So there is a memo here for you, uh, and it's basically explaining how the budget ended the year. But rather than walk through that memo, I figured we can walk through it on the Excel sheet that's up here. That will be a little easier to follow for everyone. And I just have to go back one tab. Thank you. Sorry. Technical difficulty here. It was there, but I'm just trying to go back one pound. Okay. Sorry for the delay. So what we're starting with here, uh, summary of activity. So I have started up at the top of the page, and that number is a final revenue number for 2025, which is the fifty mil 54 million seven hundred nine thousand eight hundred and thirty-eight dollars. And the next thing we're doing here is the transfer tax, which was originally set up by resolution that it was to be collected for the amount of the debt payment on the firehouse. So the amount that I'm deducting here was received in excess of that debt payment for 2025. So we're taking this off of that revenue type total to reserve for the firehouse debt, the 401,147. And then that brings us down to an adjusted revenue number. The other thing I've taken out is the planned use of fund balance. So when we had built the budget in the fall of the year before, the city planned to use $350,000 worth of fund balance. So basically that's kind of a planned shortage if you want to look at it that way. So we're taking that out as well to figure out what the actual deficit is outside of that. So it brings us down to the $54,658,691. And then beneath that is a total of all of the expenditures for $2025. And it also includes a little over $300,000 of encumbrances, which are basically items that were purchased in 2025, but they have not been received and paid for yet. That amount gets added in to so that we have a total amount spent. So taking that into consideration versus the revenue, it brings us to the deficit of $1,321,762. So going beneath that, now what I did down here is to kind of break out, we have a revenue X a revenue deficit, I'm sorry, of $2,763,832. And where that comes from is in that little list above that. We have interest and penalties. We have a shortage there of $534,302. Interest and penalties really combines two items in this line of NREM penalties and interest.