The widespread belief that East Hampton’s large budget gap was caused by fiscal mismanagement was confirmed by New York State Comptroller Thomas DiNapoli’s office in a comprehensive audit that was released on Thursday, October 1.
“The Town of East Hampton ignored basic accounting principles,” said Mr. DiNapoli in a press release announcing the completion of the audit.
East Hampton began 2007 with a surplus of $6.9 million, but ended that year $10.8 million in debt and has not been able to stay within its budget since. Town officials concede that the budget gap could swell to $20 million by the end of this year, and many estimate it could be even higher than that when all of the town’s accounts are finally settled.
The State Legislature has allowed the town to float $15... more
“The Town of East Hampton ignored basic accounting principles,” said Mr. DiNapoli in a press release announcing the completion of the audit.
East Hampton began 2007 with a surplus of $6.9 million, but ended that year $10.8 million in debt and has not been able to stay within its budget since. Town officials concede that the budget gap could swell to $20 million by the end of this year, and many estimate it could be even higher than that when all of the town’s accounts are finally settled.
The State Legislature has allowed the town to float $15... more
BELIEVE THE AUDIT, BELIEVE THE MAN WHO WROTE IT;
BELIEVE THE MAN WHO WROTE IT BELIEVE BEN ZWIRN IS THE ONLY PERSON FOR THE JOB OF EAST HAMPTOM tOWN SUPERVISOR.
QED