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    Press release of January 2006 from the North Greenbush Town Board detailing their discovery of a deficit left by the previous administration. This is the same board that current board member Lou Desso ran with in the 2005 election in which all three GOP endorsed candidates, including Desso, LOST. Now Desso claims the 2006 Board created the deficit which he later inherited from them when he finally one a seat on the Board in 2007.

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    Press release of January 2006 from the North Greenbush Town Board detailing their discovery of a deficit left by the previous administration. This is the same board that current board member Lou Desso ran with in the 2005 election in which all three GOP endorsed candidates, including Desso, LOST. Now Desso claims the 2006 Board created the deficit which he later inherited from them when he finally one a seat on the Board in 2007.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
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    2K views1 page

    Pension Fund

    Uploaded by

    NG Pipeline
    Press release of January 2006 from the North Greenbush Town Board detailing their discovery of a deficit left by the previous administration. This is the same board that current board member Lou Desso ran with in the 2005 election in which all three GOP endorsed candidates, including Desso, LOST. Now Desso claims the 2006 Board created the deficit which he later inherited from them when he finally one a seat on the Board in 2007.

    Copyright:

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    of 1

    TOWN OF NORTH GREENBUSH

    Mark Evers
    Supervisor
    Rich Fennelly
    James Mihalko
    Alan Michaels
    Ernie Kern
    Councilmen January 12, 2006

    FOR IMMEDIATE RELEASE


    Prior Administration Under funded
    Town Pension Fund by $122,158
    In a joint statement by Supervisor Mark Evers, and Councilmen Fennelly, Mihalko, Kern and
    Michaels, the North Greenbush Town Board learned this week that the Town’s liabilities to the New
    York State Retirement Fund covering its employees was under funded by $122,158 by the prior
    administration.

    The town’s contribution to the pension fund for the year 2006 will be $300,432.00 while only
    $178,274 is contained in the budget for the calendar year 2006. This means they funded only 59%
    of the total retirement bill of 2006.

    Members of the Town Board expressed their concern that this lack of fiscal integrity by the prior
    administration will have to be corrected and will adversely impact the town budget.

    This was an administration that ran on a platform that included tax cutting as its prime mantra,
    stated Board members. Now we know how they did it.

    The Board members stated that there is no excuse for this deceit and it is taxpayers who have
    been harmed by their actions. This is exactly what we have come to expect in the private sector
    where companies under fund their pension obligations in the name of profit. Government must not
    follow this example.

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