"Fantastic" is not usually in the lexicon of a CPA auditing municipal finance. But that's exactly the word used by CPA Todd Bushta, several times, to describe Hanover Township's audited 2010 budget. Bushta, an independent auditor, presented his findings to the Board of Supervisors at their April 12 meeting.In the absence of Chairman John N. Diacogiannis and Vice Chair Glenn R. Walbert, "Acting, Acting Chairman" Steve Salvesen (pictured above) held the gavel. Bushta was especially impressed at the Township's ability to keep expenses at or below budget. "I said earlier that Jay was cracking the whip, and he certainly was," remarked the auditor. "The Township is certainly healthy, certainly liquid. ...We can certainly feel comfortable that you are weathering this fiscal stress quite well. Obviously, the staff has done a great job managing its financial operations, and we're satisfied with the internal controls."
Bushta's independent audit is loaded for public inspection on the Township web page, and reveals that Hanover finished 2010 with a net surplus of $615,905, with net assets of $21,703,821 and unrestricted cash assets of $4,161,892. This is nothing unusual. Township Manager Jay Finnigan indicated there's been a surplus in every year since he's been Township Manager, and Supervisor Steve Salvesen added that the Township has been in the black since '94 or '95.
According to Salvesen, one of the reasons for this rosy financial picture is that the Township converted several bonds, on which it was paying interest rates between 6 and 7%, to bank loans with interest rates between 3 and 4%.
Solicitor Jim Broughal noted that Hanover has practically no legacy costs associated with pensions. "This Township doesn't appear to have any legacy costs. Is that because it is not a defined benefit pension plan?" Bushta acknowledged that was the primary reason. A defined benefit pension, common in most municipalities, is one in which the employee is guaranteed a specified monthly benefit on retirement, regardless of investment returns.
In other business, Supervisors authorized the Zoning Officer to advertise a Conditional Use Hearing for May 10, 2011, on Richard Bartolacci's application for an expansion of an exercise facility at Just Be Natural (JBN), located on 8.2 acres at the northeast intersection of Courtney Street and Highland Avenue. Bartolacci also maintains professional offices and a wholesale warehouse at the site.
Supervisors also authorized Solicitor Broughal to advertise an Ordinance to regulate standing and parked vehicles within LVIP IV and Bethlehem Business Park. Although there are "codes and covenants" within the business parks to prohibit parked and standing vehicles, there are no enforcement provisions. "Without signs, you can't enforce," noted Manager Jay Finnigan.
Supervisors also observed a moment of silence for Glenn Taggart, a former Planning Commission member who passed away on April 2. Taggart most recently served as a member of Bethlehem's Zoning Hearing Board.
finnigan is just a little ate up with himself
ReplyDeleteAs one of Jay's peers in the Valley it is great to see this type of positive information. He's brought a keen business prospective to a job usually shackled by bureaucratic paradigms.
ReplyDeleteThe LV is blessed to have a number of dedicated Township managers, from Jon Hammer to Howard Kutzler.
ReplyDeleteFinnegan was anunemployed stock broker who was a supervisor in Hanover Twp. His insider staus and close connection to Ron Angle got him the job.
ReplyDeleteStop the bullshit
I doubt that Finnigan's connections to Angle got him a thing. The simple reality is that an independent auditor has reviewed Hanover's 2010 finances and has given the Township a glowing report. Although much of this is likely due to Finnigan's stewardship, there are also 5 very capable supervisors as well as an exemplary township staff, which I see with people like Vince Milite.
ReplyDeleteI wish I could say things were horrible bc that would attract more readers. But they're good.
This is a Salveson campaign announcement!
ReplyDeleteFirst, Finnigan, now, Salvesen. It is a factually accurate account of the report of an independent audit.
ReplyDeleteBarron will still win by 30% despite Bernie's working to elect Salvesen.
ReplyDeleteThis is a factually accurate account of the report of an independent audit. If it makes you squirm, good.
ReplyDeletethe only thing jay is devoted to is jay. the boy never passed a morrow he didn't like. neither he or vince "yazza boss" can hold a candle to sterner and heely
ReplyDeletebo, why do u lower ur self to kiss so much ass? ru that desperate to be cuddled? there has to b a tie to ur man crushes, o'l man suffy and anal angel here
ReplyDeleteThe person who is lowering himlself is obviously you.
ReplyDeleteWhile there may have been some animosity toward Jay in his early days of being appointed Manager, he has surely proved to be not only a good choice but someone who can surely hold the line while delivering top notch services. I love my home and neighborhood in Hanover and appreciate all that is being done not only by Jay but the Board of Supervisors during this rough economic time.
ReplyDeleteLet me tell you I live in Hanover Township(Westgate Hills) and I will tell you that there is no better place to live. Keep up the good work!!!! Township leaders.
ReplyDeleteIn my neighborhood we are glad the anonymous who posted at 3:58 PM moved to an adjoining township from Hanover. Finnigan, (spell his name correctly if you want to attack him) NEVER was a stock broker and any affiliation with Angle would have hurt him.
ReplyDeleteStop the whinning!