...BUT, the Observer Dispatch article continues:
...by the time final receivables and payables are accounted for, the total is likely to be closer to $400,000, Tyksinski said.So...we have plenty of money...if we don't pay our bills. What kind of smoke screen is that?
It became apparent that the town is still in financial distress after we heard the conversation between town officials just before the start of the January 12, 2011 town board meeting.
All the councilpeople were gathered around the table initialling what seemed to be an endless number of vouchers waiting to be presented and approved for payment later that evening. One councilman asked why there were so many. Supervisor Tyksinski answered that some of them were from September 2010 and just hadn't been paid yet.
Here's a picture of the vouchers on the table:
According to the DRAFT copy of the January 12, 2011 town board minutes, the vouchers totalled $825,473.80.
Here is ...a pdf of the minutes with a listing of the vouchers to be paid.
It doesn't take a rocket scientist to figure out why vouchers from September 2010 were just being reviewed and approved for payment on January 12, 2011...there was no money available at that point until after the town property tax revenue started rolling in. The town simply did not have the money to pay their bills when they were due and some of those bills were 90 days past due!!!
By the way, an August 2, 2010, Observer Dispatch article, New Hartford's fund $350,000 in the red at end of ’09 stated:
‘Pay the piper’
The town has been managing its cash flow this year by borrowing between funds when necessary, Tyksinski said. But that can only work for so long.
“It’s not like we can just sit back and say, ‘That happened last year and let’s move forward,’” Tyksinski said. “Some place along the line, you have to pay the piper.”The questions everyone should be asking are...how close to $400,000 does Supervisor Tyksinski think the ending fund balance will be? And is that guess based on the 'sales tax revenue windfall' touted by Supervisor Tyksinski? And is it before or after the borrowing between funds is paid back?
If the town is not in a position to pay their bills on time in September, perhaps it's merely a matter time before we are forced 'to pay the piper'!