676K Tentative Budget Presented - Restricted Street Parking Expected

MARGARETVILLE - The Margaretville Village Board presented the $676,102 2025 tentative budget on March 19, an increase of $9,524 over 2024. A public hearing is scheduled before the organizational meeting on Tuesday, April 8 at 4:45 p.m. The proposed budget is just under the state-mandated tax cap increase of 2.25% at 2.24%.

The budget includes an overall salary increase of 3%. Insurance rates are expected to increase a few thousand dollars and the budget includes roughly $25,000 for the fees. Another increase was included for the lighting district as NYSEG bills have grown and are not expected to decrease. 

Expected revenues have increased due to the anticipation that the village will use NYClass, a municipal investment bank. The institution holds 4.2% interest rates compounding daily. Current interest rates for the village's CDs are at around 3.2% and investments are locked in for one year. NYClass allows municipalities to remove funds immediately if requested before noon.

Bookkeeper Beth Bush reported Middletown recently invested in NYClass and raised hundreds of dollars in just a few weeks.

In another discussion, the board agreed to refine a letter to be sent out to village residents and businesses regarding parking restrictions. The letter limits parking to one side of the street on all village roadways. Particulars on enforcement and what violators can expect will be detailed. If the village decides to tow vehicles they will be brought to Stamford, Delhi, or Tannersville. The board is expected to finalize the letter by Friday, March 28. 

Trustee Sarah Hubbell noted a main issue with double-parked vehicles is that it causes limited access for emergency service vehicles. 

In other news

A memorial bench is being planned for Gary and Willis Marks who were greatly involved in the Rotary Club. 

All future down payments on cemetery plots at the annex are required to be paid off in one year.

It is expected the board will begin reviewing all local laws for potential updates. 

Margaretville will join forces with Middletown and Fleischmanns in sending out an RFP (request for proposals) to develop a joint comprehensive plan. The committee tasked with assisting plan development is expected to have three residents from each municipality. 

Trustees approved the liquor license application for a New Kingston resident seeking to update and open the old pub at 814 Main Street as a restaurant. Applicants will still need the liquor authority and State Department of Health to review.