The 2022 audit revealed that $966,333 has been over spent! Not replenished. It's gone. Zippo. Zilch.
What is the purpose of a budget process when:
We are lied to about the numbers we are even budgeting?
We spend a million dollars more than was budgeted?
One of the auditor's comments stated:
"a material misstatement is reasonably possible."
A material misstatement is a misstatement in the financial statements that could reasonably be expected to influence the decisions of users of the financial statements. Material misstatements can be caused by errors or fraud. Errors are unintentional mistakes that occur in the preparation of the financial statements.
(I would imagine errors wouldn't amount to anywhere near a million dollars)
Here are some more comments from the report:
Trust accounts not properly established with the state of NJ
Employment contracts must be reviewed
Monthly receipts and disbursements must be recorded in the general ledger and reconciled to the bank account statements (suggests we are not reconciling)
Proper authorizations were not obtained for over expenditures of appropriations in the current fund and the beach utility operating fund.
Bank reconciliations were not completed and accurately reconciled to the general ledger
Bradley beach is not in compliance with a state statute that requires a responsible individual to authorize and supervise the activities of the payroll service provider.
THE AUDITOR COULDN'T ACCOUNT FOR $75,0000! (As if $1M wasn't enough, an extra $75k unaccounted for on top of $217k of Covid dollars undocumented)
Close to a million dollars of our tax dollars have been wasted away without any knowledge of where it went. Residents tirelessly attend meetings asking time and time again where thousands of dollars are spent and never given an answer about a penny. The Mayor and one of his acting administrators or purchasing agents either say nothing or say that they will get back to us. But for the most part, most residents get up at a new meeting to say they haven't received any feedback.
THIS IS THE PLAYBOOK!!
Budgets are pushed to their deadlines to put the pressure on our council to pass it. Two years clearly of this theater with the worst lead role to have ever laid feet in this beloved borough we all call home.
No wonder Larry Fox stalled this 2022 audit. The 2023 budget was a HUGE lie.
Larry's Borough Administrator Kim Humphrey (who still is our Qualifying Purchasing Agent) was part of the 2022 budget, spending and lies.
Larry's Acting Borough Administrator Greg Fehrenbach (who still is our resident volunteer administrator negotiating DPW 2023 contract, or lack there of) was part of the 2023 budget, spending and lies.
Larry's Acting Borough Administrator Meredith DeMarco (who was our councilwoman and now our Acting BA taking budget classes at Rutgers on our dime in addition to her salary) was part of yessing all of the 2023 budget lies.
I urge this council to not approve another penny under this Mayor. Not a bill, not a budget! We would be better off managing this money ourselves than allowing Fox to bankrupt us. He needs to resign immediately in order for this town to function properly. We need competent and honest people running this ship. Whoever birthed the nickname "Lying Larry" on Tim Sexsmith's computer, knew exactly what they were talking about.
Click on link to listen to Councilman Gubitosi sharing his opinions as well as sharing comments of the 2022 audit itself. https://youtu.be/VobI4mTL8Yk?si=MNiKwbjKZ7K-GtIL
A very important post made by former councilman Randy Bonnell:
There is a possible consequence to this surplus/ budget problem that could really hurt us. Something no one brought up last night was our state rating. We are currently headed for a major financial disaster, bankruptcy is in the pool of possible out comes. If the state comes in here to clean up the mess we cannot, our bond rating will become extremely poor costing us exponentially more to borrow money. It likely will also effect eligibility for grant money. We still have +/- 20mil of sewer repairs to finish up the last 3 phases of the plan. The 13% tax increase in last year's budget will seem modest compared to what we need to do this year to correct the the problems which have been brewing since 2021. Ask yourself "what happened in 2021 that so drastically changed the positive course we were on for the last half of the twenty-teens???" Please bring this critical issue to all your friends and neighbors in town and get them involved. .... WE NEED AN ALL HANDS ON DECK RESPONSE TO OUR CURRENT ADMINISRTATION!! Its very easy to attend meetings on line, we need EVERYONE to get involved.
I am not shy to admit that I am a big fan of Councilman Gubitosi. Let us not forget, my first attempt of getting involved to be in the know was with Larry Fox. Emails, phone calls and a meeting to officially get to know him. Until the lies, deceit and badmouthing of his colleagues began, so soon after meeting, in emails and phone calls that I moved onto contacting my elected council members. I then went on to officially meet Al Gubitosi. He had and still has responded to every question and inquiry of mine like a true Mayor would. His level of service has been 5 star. I can now admit that there is bias as a friend, however, this friendship was built upon the trust, transparency and goodness he has brought simply by being an honest council person. After last night's council meeting, I am for sure counting Bradley Beach's lucky stars for Councilman AL GUBITOSI on his expertise in finance, but more so, his level of professionalism and morality for this Borough. I look forward to the deeper dive into this 2022 audit report. (Fox got rid of a finance committee and imagine if Gubitosi hadn't been looking into this report...a material misstatement indeed)
In closing I am adding a link to my comment from the meeting regarding this 2022 audit report into the 2023 budget season: https://youtu.be/Yjr1uP4PA8Y?si=EcK5Myf1tAnXk7Kb
Contact info for residents to inform the state about the 2022 audit information:
DCA
609-815-3904
You can email:
NJ Comptroller tip line: 1-855-672-8477
See you in the Sand...or NEXT WEEK AT THE BUDGET WORKSHOP, APRIL 3RD!
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