FOR IMMEDIATE RELEASE
DATE: October 10, 2024
Southampton Town Supervisor Maria Moore presented the 2025 Tentative Budget to the Town Board at a Special Meeting on Tuesday, October 1, 2024. This fiscally responsible plan prioritizes public safety, expands essential services, and strengthens the Town's financial stability for the future. The budget reflects a commitment to sustainable growth and improved services for all residents, supporting the following key priorities:
Public Safety: The budget strengthens the police force by adding four new officers and funding promotions for two sergeants to enhance patrol supervision and meet the increasing demands for service, traffic enforcement, and sector coverage. It also allocates funds for an additional Ordinance Inspector and a Town Investigator to expand code enforcement coverage, including extended hours.
Investing in Essential Services: The budget prioritizes completing ongoing projects and repairing existing infrastructure to ensure the longevity and efficacy of Town assets. It includes strategic investments for critical infrastructure needs including park facilities, and adds new positions in vital departments such as Highway, Housing, Engineering, and Waste Management to maintain and improve Town operations.
Smart Fiscal Planning: The 2025 Budget allocates funds for recurring operational costs within the Operating Budget, reducing future debt and interest payments, ultimately saving taxpayer dollars. It prioritizes attracting and retaining qualified Town employees by offering competitive salaries and benefits to ensure the continued provision of high-quality services. The Budget also provides funding for a Comprehensive Plan Update, a roadmap for the Town's future growth that is balanced and equitable, addressing key issues such as land preservation, affordable housing, and more to ensure Southampton remains a vibrant and desirable community.
Financial Strength and Stability: Southampton has once again earned the highest credit rating (AAA) from Standard & Poor’s, a testament to the Town's strong financial management, ample reserves, manageable debt, and conservative budgeting practices. The rating allows the Town to borrow at a very low interest rate and develop strategies for retiring debt, benefiting taxpayers.
The Tentative Budget sets the tax rate at 1.5305 per $1,000 of assessed valuation. This means an average tax increase of $140.00 for a home assessed at $1,000,000. As in the each of the other East End Towns, this increase exceeds the 2% tax cap but allows the Town to keep pace with rising costs, particularly in employee health insurance and pension obligations, while maintaining a high level of service.
Supervisor Moore noted, “The 2025 Budget is the result of a collaborative effort, incorporating input from the Comptroller’s Office, Town staff, department heads, and my colleagues on the Town Board. It is an honor to work alongside these dedicated men and women as we serve our community. And thank you to you, the residents of Southampton. Your voices matter, and I encourage you to review the detailed Preliminary Budget document available online and participate in the upcoming public hearings. Together, we can ensure that Southampton continues to be a thriving community for all.”
The Tentative Budget was converted to the Preliminary Budget at a Special Meeting on October 3, 2024, and is available online for public review. Public hearings are scheduled for October 22 at 6:00 p.m. and November 12 at 1:00 p.m. The Town Board must adopt the Final Budget on or before November 20, per Town Law.
