In a recent government meeting, officials reported strong financial performance for the fiscal year 2024, with revenues exceeding budget expectations at 101.66%, totaling approximately $163.3 million. Tax collections were a significant contributor, achieving a collection rate of 99.3%. Building permits also surpassed projections, reaching 131% of the budgeted amount, while conveyance fees came in at 109%, albeit slightly lower than the previous year.

Interest on investments proved to be a standout performer, hitting 176% of the budget, which added $1.6 million to the revenue stream. However, parking revenue lagged, achieving only 81% of its target. On the expenditure side, the town managed to spend 98.37% of its budget, resulting in savings of about $2.7 million, attributed to various factors including unspent funds from the Board of Education and reduced costs in the fire department.

Looking ahead, the first quarter of fiscal year 2025 shows promising signs, with revenues at 53.8% of the budget, consistent with last year's performance. Tax collections and building permits are on track, while parking revenue is expected to improve as permit renewals progress.

The meeting also included an update on the Buchanan Police Department building project, highlighting an excellent safety record with no construction days lost and positive relations with neighboring residents. The project continues to move forward smoothly, reflecting the commitment to community safety and engagement.