Update: Beth Mason flier on the "Budget Surplus"

Update 9/1/2010: This flier was seen throughout the second ward over the last few days. Beth Mason is determined to get her message out. I wonder when we will see this on her ELEC reports for the campaign that never stopped?

This flier from Beth Mason has been in mailboxes in the Second Ward recently

Actually, the plan is to give some of the surplus back. That would be a tax cut of 5%. I would love to see Beth Mason recommend more cuts if she feels that strongly. After all as Richard Turner once said to Beth Mason two years ago at the DCA budget hearing in 2008: "Where is your plan?". Beth did not have any.

Update 8/16/2010: This post has been bumped up to to strong comment volume. I do recommend that when debating the issues that you stick to proper argumentation and refrain from insulting other's intelligence. I do like to allow a wide berth in the comments and generally refrain from moderation so I just make this as general suggestion on this thread. One thing I want to be clear on is that I don't think this faux populism argument coming from Beth Mason and the axis of Hoboken 411 is going to help her politically that much at least to those who follow events closely. What the reserve should be for a city of our size should be the main point of the debate.

Original Post 8/13/2010:
Beth Mason and Hoboken 411 in synch on the "Budget Surplus"

Here is the latest communication from 2nd Ward Councilwoman Beth Mason. The first sentence is predictably a link to the latest factually incorrect article published on Hoboken 411 about the budget surplus.

Dear Friend,


Recently the City of Hoboken filed its year-end financial statement with the Department of Local Government Services, which revealed a budget surplus of almost $20 million.  This surplus belongs to you, the taxpayers. I am calling on Mayor Zimmer to return this money to you immediately in property tax relief.

The surplus was created as a result of the crushing 47% tax increase. This increase resulted in you overpaying thousands of dollars in property taxes. Your money should be returned immediately.

Please stand with me in my call to return this money to the people of Hoboken and help provide much-needed property tax relief.

Together we can make Hoboken a better and more affordable place to live and raise a family. As always if you are in need of assistance or have any concerns please do not hesitate to contact me at (201)-916-8244 or Beth@MasonCityCouncil.org.

Thank you for your time.

Beth Mason
2nd Ward Councilwoman
 
My comment: The portion of the budget surplus that is not marked for anything is $12 million dollars. This has been confirmed by several sources as well as Mike Lenz's comments at the last City Council meeting. Ideally according to Mike Lenz, who is chair of the budget committee, a city of the size of Hoboken should have a budget surplus of about $10 million. In the past, the City of Hoboken had to do temporary financial instruments that cost the City over $800,000 in one year because they did not have a surplus. Remember that under the Roberts Administration that the City Workers almost lost Health coverage because the city wasn't paying their bills on time. Is Beth Mason saying the City should not have any surplus? Is Beth Mason saying the City should give back all the $20 million to the taxpayers? Some of the money is set aside to give the police and fire raises when negotiations or arbitration is completed. Does she want to rob from the cops and firemen their retroactive raises to give back to the taxpayer? The amateur hour of fiscal finance continues with Perry Klassuen, Lane Bajardi, and now Beth Mason displaying they are not even fit to read a basic balance sheet or understand how good government really works.
 
If the Zimmer Administration continues to make the incremental cuts necessary with appropriate reductions in the fire department where if/warranted, as well as other areas of City Hall that could use streamlining, some tax relief will come next year. Perhaps $2 million could come off the surplus and give some tax relief now, but not $20 million. I would rather see that go to paying off the principal of some of our bonds (the ones with higher interest) to put the city in even better shape going forward.
 
Here is an analogous example to explain my position further: I am the Condo Association President of my building and we have 9 units. Every year I don't have the Condo Association balance at zero dollars at the end of year. I always try to keep some carry over between $10-$12K dollars. Why? Because I never know what could come up like a major roof repair. If I started at zero every year I would be hitting the association with one time gimmicks like a special assessment or could run into trouble paying routine bills like insurance or water due to cash flow issues. Duh! You need to have some money in the bank at all times to have smooth operations whether it is a small condo association like mine or a city like Hoboken. ◦

Update: Beth Mason flier on the "Budget Surplus"