Southern Dutchess Letter about defict in Fishkill

While reading the September 22nd 2010 issue of the paper. I was surprised to see how Fishkill officials downplayed the $4.9M deficit. What struck me, was the towns insistence to continue to borrow from other funds to balance the budget. The NYS Comptroller report on the deficit, on page 31. States that, "Accounting for these interfund loans as current (available) assets ignores the fact that they have not been repaid as of end of the subsequent fiscal year. For that reason, they cannot be considered available for spending. Because they are not available for current spending, accounting standards and guidance require that available (unreserved) fund balance be reduced (reserved) by the amount of such loans."

Fishkill officials then mentioned that the town is allowed to have $183 million in debt and that we are at $30 million in debt. In another effort to downplay the economic mess created by the Pagones Administration. Well, if we cannot afford $30 million in debt, what makes them think we can afford $183 million in debt? At the meeting, Officials compared the towns fiscal woes to that of Detroit and the State of Nebraska, in a further effort to deflect blame.

The reason that we are in this economic mess. Is due to the failed economic policies of Supervisor Pagones. For regular readers of this paper. You know I, and others called out the town many many times for not having a Reserve Fund. The response, well we do "Zero Based" budgeting. Now as part of the 5 year plan, there is a provision for a Reserve Fund! Besides not preparing for this housing crisis, Pagones also cost Fishkill $450,000 for the failed assessment program! But the most important part of the story, is the fact that it took the NYS Comptroller to issue this report. If it was not for him, we would have never have found out what is going on in Fishkill. This audit began in 2007, and no elected official had the courage to bring it to the attention to the public. This alone, should give you a great perspective as to how the towns financial vitality was run into the ground.

Ozzy Albra