Village Budget 2025-03-24

Today at 5:30 PM in the Village Board Room, the Board will hold what may be the only budget work session for the 2025–2026 fiscal year. This may be our only opportunity to meaningfully question and shape a budget that, if left unchallenged, could steer our village toward a fiscal cliff.

The numbers speak for themselves:

• This year we’re projecting a deficit of -$426,393

• And next year? A staggering deficit of -$674,747

This isn’t a minor shortfall. It’s a warning sign. We are overspending—dramatically.

What’s going on?

Fund Balances are Dropping Fast
In 2024, our General Fund had $3.8 million. In 2026 we expect it to drop to $2.5 million. That's a $1.3 million depletion in just two years. This trend is unsustainable.

Expenses Now Outpace Revenue
We are budgeting $7.3 million in expenses for the General Fund—while bringing in only $6.3 million in revenue. We are relying on almost $1,000,000 in fund balance to plug the gap.

Saving Don’t Offset the Problem
Even as we set aside funds to pay for future needs like new fire trucks, sidewalks, and streets, the amount we’re saving is modest compared to the structural imbalance in our operating budget. We are saving nickels while burning dollars.

Why does it matter?

Fiscal responsibility is about leadership, transparency, and safeguarding our community’s future.

If we don't course correct:

• Essential services will suffer

• Taxes will spike in future years

• Our credit and state aid will be jeopardized

What can you do?

Attend the Village Board meeting on Monday, March 24 at 5:30 PM. Your presence matters. Ask questions. Demand accountability. Let’s work together to ensure that Saranac Lake remains a place we can afford to live, serve, and thrive.