How We Will Restore Fiscal Stability to Sleepy Hollow
The Sleepy Hollow Democratic slate will protect our residents from unnecessary debt and new tax hikes. We will use village resources wisely, actively seek grants and donations to fund projects, and work with neighboring municipalities to share services. We will stabilize our finances and taxes while revitalizing our growing village.
IRRESPONSIBLE DEBT
Unite Sleepy Hollow mismanaged our Village finances when they were in charge. In December 2020—during the height of the COVID pandemic—they took out a $35 million bond to develop the East Parcel, ballooning village payments toward debt.
Table - Serial Bonds Outstanding as of May 31, 2025. Last page of this document: 2025-26 Final Budget.xls
CRITICALLY LOW general fund
As yearly debt payments increased, the Board of Trustees led by Unite Sleepy Hollow did not plan ahead. They emptied our Village’s reserves fund (listed in financial statements as the unassigned general fund), which dropped from a healthy $6.5 million in 2021 to just $2 million by 2024. Because of that shortage, the current Board of Trustees had to raise taxes to pay for essential services.
No one wants to be surprised like that again. We need to rebuild the village’s reserves and restore fiscal stability. According to the New York State Comptroller, we should have at least $6 million in our unassigned general fund. Neighboring villages, Tarrytown and Ossining keep much more in reserve - $14 million and $16 million.
Meanwhile, Trustee Husselbee, now running for Mayor, wants to borrow another $25 million for a new Public Works facility (12/17/24 Trustee meeting, minute 46), but also promises to cut taxes. That math simply doesn’t add up. Unite Sleepy Hollow’s plan will bankrupt our Village.
