Village Of Ridgewood 2013 parking meter & permit revenues vs. expenses
September 10,2014
Boyd A. Loving
11:01 PM
Ridgewood NJ, Village Manager Roberta Sonenfeld released a report entitled: “Village of Ridgewood Parking Utility – 2013 Revenue & Expense Summary” on 09/08/2014.
Here are the Cliff Notes:
Total revenues = $1,063,775.55
Total expenses = $902,243.45
Excess in operation (profit) = $161,532.10
The following line items were listed under “allocations/indirect expenses.” That is, a predetermined percentage of total 2013 parking revenues was allocated to each line item:
Municipal Court
Village Attorney
Group Health Insurance
Workers Compensation Insurance
General Liability Auto Insurance
Management Information Systems
Village Clerk
Finance (Accounts & Treasury, Audit Services, Collections)
Engineering
Street Services
Street Lighting
Traffic & Signal
Central Garage
Parks
Police
Gasoline & Diesel
Electricity and Gas
Telephone
Public Employees Retirement System
Social Security
Police & Fire Retirement System
Unemployment Insurance
Indirect expense allocation in 2013 was: $791,455.28
No information was provided regarding direct expenses other than they totaled $110,788.17 in 2013
All year end fund balances PRIOR to EOY 2013 were reduced to zero (yes, nothing left, zilch) because of theft/shortfalls in revenue.
The TOTAL BALANCE IN ACCRUED EXCESS PARKING REVENUES (profit) AS OF EOY 2013 is: $162,070.
Voodoo economics at its worst.
Déjà vu – the lawsuit against Ridgewood Water alleges biased allocation tables were used to funnel monies into functions that had nothing to do with providing water to Glen Rock, Midland Park, and.Wyckoff. Looks like the same trick is used to shuffle parking revenues into the mainstream operations of Ridgewood.
Can Abdoo solve this riddle…?
Rev. Al was very subdued at last night meeting. Guess he read the blog.
Last night was a riot, watching them tap dance when Boyd was trying to speak. Public comments? More like jump on the public taxpayer who was trying to speak. I was cracking up in my kitchen watching them stumble, cracking up like a dozen dropped eggs.
All profits except those from 2013 were lost to thievery or to cover other departments’ losses?????????? And still no one was fired? What a Mickey Mouse operation.
I don’t understand the lawsuit, when a company like United Water, can make all the profit they want, and send it back home to France.
We should make all the profit we can with the water company.
I believe the issue here is that Ridgewood Water asked for a huge rate increase claiming costs associated with running the business had escalated, when in actuality, additional money was needed to run Village operations so property taxes in Ridgewood didn’t have to be increased.
What is the exact breakdown?
So some guy stole 20% of the gross parking revenue (which includes revenue generated by parking permits) 2 YEARS IN A ROW and NOBODY NOTICED? In business when this kind of embezzlement happens, the guy goes to jail and everyone in his department including the executive in charge, gets fired.
Let’s add this to the attempt to intimidate Mike Sedon out of seeking office, violations of the Sunshine Laws and free tickets from John Saraceno to the governor’s fundraiser. Prosecutors would call this administration a “criminal enterprise” which in Ridgewood’s case is now an understatement.
As long as we continue to let our elected officials off the hook, they will continue to lie, cheat and steal.
#10 – What is your suggestion for not letting them off the hook? If you have a plan, I and a few thousand other residents will all be on board.