Geo-Mechanics, Inc. Saves Us a Bundle

Two years ago, at my suggestion, we had hired Geo-Mechanics, Inc. to provide Engineering for Northmont Dam. Over the past 20 years, we had spent untold thousands of dollars with WEC Engineers, our Borough Engineer and the Engineer involved in last year and this year's unauthorized meetings. The results of working with Geo-Mechanics have been wonderful, evidence our budgets vs. expenditures on Northmont Dam:

Item Year Budgeted Expense Actual Expense
Northmont Dam 2009 $150,000 $12,631
Northmont Dam 2010 $ 50,000 $491
Northmont Dam 2011 $ 50,000 To Be Determined

We have retained Mr. Art Gadzik, Ross Twp. Engineer in the interim to provide Engineering Services until we find a permanent replacement for WEC Engineers.
March 16, 2011: We have retained Senate Engineering Co. as our new Borough Engineer.

Franklin Park Borough Finances as of Nov 30, 2010

The following is the summary of accounts as of Nov 30, 2010:
Borough Unrestricted Accounts $1,400,524.88 (Includes $66,507.11 from $52 Local Service Tax)
Borough Restricted Accounts $468,085.62 (Off Budget)
Borough Enterprise Accounts $356,294.78
Borough Escrow Accounts $345,089.81 (Off Budget)

Total (Money in the Bank) $2,569,995.09

If Borough Revenue and Expenses balance out in December, we should have the $1,400,524.88, Unrestricted Account, as the General Fund Starting Cash for 2011 Budget.
(The latest Budget Blueprint received Dec 10, 2010 shows this number to be $1,125,000 fully $275,000 below what we have in the bank)

Voting "NO" on 2011 Budget

I will be voting NO on the 2011 Budget at the Dec 15, 2010 Meeting for the following reasons:

1) The 2010 Budget shows Year End Total Cash of $559,000 (see page 4 of 2010 Budget)
The 2011 Budget shows Starting Total Cash of $1,655,797 (also on page 4 of 2011 Budget)
Somehow our cash balances increased by $1.1 Million during 2010. Obviously the Revenues were not recognized properly in 2010 and yet we are continuing the $52 Local Service Tax unnecessarily to collect $67,000 . The Tax Happy Group on Council, Mrs. Amy Sable, Mrs. Jane Hopey, Mr. Richard Hartman and Tax Happy Mayor, Dennis O'Keefe are continuing this tax policy.
All of this information can be seen under "Budget" on our website.

2) The Lowries Run Bonds have been paid off this year and we are still carrying $103,480 in that account in the 2011 Budget.