SLEEPY HOLLOW VILLAGE FINANCES
For years, Unite Sleepy Hollow has been confused about how village funds and budgets work. You can see the evidence from this recording of a Board of Trustees meeting where Jim Husselbee cannot understand what our own Treasurer is telling him. WATCH HERE.
Sleepy Hollow consistently spends more than it receives. The reasons are simple:
Unite Sleepy Hollow took on too much debt for our Village to handle all at once, with a $35 million bond that they borrowed in 2020
Unite Sleepy Hollow misjudged how quickly Edge-on-Hudson would be built and how soon tax revenue would come in, showing they don’t understand development.
The Net Position Summary of the 2024 Audit on our Village Website shows you that in both 2023 and 2024, we spent more than we made in revenue driven mostly by debt payments.
In 2023, the deficit was $1,808,654 and in 2024, the deficit was $4,088,942.
FUND BALANCES
When a Village’s expenses outpace their revenues, they must draw from the “Unassigned General Fund” or the Village reserves.
Unite Sleepy Hollow repeatedly misunderstands this critical distinction.
The majority of our General Fund is assigned to specific spending as you can review here and the total unassigned is $2,007,176.
Given Unite Sleepy Hollow’s lack of understanding of our Village finances, how can you trust them to be financial stewards for all of our residents? Unite Sleepy Hollow will blunder again, take on more debt (WATCH HERE where Jim Husselbee proposes to do so) before we are ready and cause massive tax hikes. Our Village’s finances are recovering. We cannot afford to repeat the same Unite Sleepy Hollow mistakes, taking the Village backward. Our township offers a cautionary tale: Moody’s just downgraded Mount Pleasant’s credit rating for the SECOND time this year for exactly this reason: depleting the general fund to keep taxes low and pay off expenses (READ HERE).