An independent audit has confirmed that Hempstead Village’s general fund recorded a $2.3 million surplus for the 2011-12 fiscal year, making it the sixth consecutive year without a deficit, village officials said.
The village appropriated $3.1 million in surplus, including a portion of its reserves, to balance its 2012-13 budget. The appropriation allowed for an overall tax levy increase slightly below 1 percent, officials said.
“The Village of Hempstead is financially strong and getting stronger each year,” Mayor Wayne Hall Sr. said in a statement. “The village government is committed to the fiscal health of Hempstead and its residents and will continue to maintain a long view.”
The fiscal recovery is a result of expense cuts, debt refinancing and hiring freezes, among many other measures, Hall said. He added that officials plan to adopt a budget that is at or below the state tax levy cap for the 2013-14 fiscal year.
Hall will deliver his annual State of the Village address Wednesday at 7 p.m. in the Hempstead Public Library’s community meeting room, 115 Nichols Ct. He will discuss the financial state of the village, public safety, infrastructure improvements, economic development and his vision for the future.