March 24,2017
the staff of the Ridgewood blog
Ridgewood NJ, at the Village Council meeting the Financial Advisory Committee seemed to be caught with”alternative facts” .
The FAC presented a report still talking about a 350-space garage, which is no longer on the table. This sunk their entire report and made it’s over zealous estimates flawed from the git-go.
The next problem was the allocation tables that would have to change since more personnel resources would be expended toward managing the garage, so any surplus from the parking authority would most likely be less.
And finally, the $500,000 surplus that they seemed to think would be an annual surplus was a one-time amount, in large part because of insurance payment for the pilfered quarters; there was no evidence given that this surplus would ever reach this level again.
The FAC did not have the FACTS so their report was a complete waste of time.
