Because of fiscal mismanagement during the past three years, the Police District has insufficient funds to meet the payroll and vendor's bills for December, January and February. The P.W. Police District is short by $1.8 million.
In the past, the Town of North Hempstead has been able to give the Police District an "advance" of the required amount, deducting it from the next release of tax revenues.
But the well has run dry. The town says we have to apply for a loan of $1.8 million at 1 percent interest. There is nothing in the 2004 budget with which to pay the $18,000 annual interest.
I am proposing that the three commissioners vote to reduce their annual salaries from $16,000 down to $10,000, which will give us the $18,000 with which to pay the interest. We can do this for two or three years or until, through budgeted "fund balance restorations," the fund balance again becomes large enough to make "advances" from the town unnecessary.
This is the penalty the board of commissioners should pay for their fiscal mismanagement, $18,000 per year until health is restored.
Bob Persons
Commissioner