of the accounting error?
November 4, 2003
Bridgewater
Raynham
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Joseph Gillis Jr.
You can do something!
Several weeks ago, an accounting error was discovered (about $800k). At the same time, an adjustment was made to other budget categories that increased the shortfall to approximately $900k. Some of the blame for these issues must fall to the 'process' of our fy04 budget process - and the exclusion of the Advisory Board in the process. Assurances have been made that this situation will not repeat for the fy05 budget cycle.
Surprisingly, this $900k has been fairly quickly resolved, with money 'found' in many accounts, and with some creative shifts of funds. Of note, is the fact that this was resolved without departmental budget cuts. In other words, expenses were not reduced; assets were translated to income to offset this shortfall. This could set the town for even more extreme budget reductions in fy05 - and the town will not have the assets to balance the expenses.
Finally, as far as punishment is concerned, that is the purview of the Bridgewate Board of Selectmen. To the best of my knowledge, there has been no decision nor punishment as of today.
