Southold Town held a public information session on the budgeting process and the details of the 2012 budget on Thursday.
Town Supervisor Scott Russell gave the presentation, which highlighted the ways the town is dealing with decreasing revenues and increasing costs, particularly in New York State retirement, insurance and fuel costs.
“What you see is generally an erosion of revenues in all categories but for beach permits,” Supervisor Russell said. “Those have dramatic pronounced effects on the budget.”
Mr. Russell was quick to point out that the increase of $700,000 the town will need to pay into the state retirement program is not included in the new statewide 2 percent property tax cap.
Mr. Russell’s nearly $40 million tentative budget includes a tax increase of 2.79 percent, most of which he said is due to the state-mandated retirement costs.
A video of the session is available online.