New Rochelle City Manager Charles Strome III today released his proposed budget for Fiscal Year 2012. In the midst of the worst economic environment in memory, the budget proposes to close an estimated $8 million funding gap through a blend of revenue increases and spending cuts.

To accomplish this, the budget calls for a real estate tax levy increase of 3.68%, the maximum allowable within the limits set by the New York State “tax cap” legislation adopted earlier this year; an increase to the residential refuse fee; and the reduction of 54 full and part-time positions.