Audit released detailing how Long Beach got into debt
An independent audit report released today shows how Long Beach officials got the city $48 million in debt. According to the audit, an 80 percent increase in overtime and purchases made without proper
•
Feb 7, 2012, 12:40 AM
•
Updated 4,889 days ago
Share:
An independent audit report released today shows how Long Beach officials got the city $48 million in debt.
According to the audit, an 80 percent increase in overtime and purchases made without proper approval led the city deep into the red.
Because of the overtime and improper purchases, the city's rainy day fund, which held $7.4 million in 2008, was whittled down to just $107,000 last year.
City Manager Jack Schnirman says it was dishonest accounting by previous administrations that put Long Beach in its current predicament.
Residents say they are worried that the only way out of debt will be on the back of the residents in the form of higher taxes.
Long Beach plans to declare fiscal emergency
More from News 12
1:37
Nassau police: As many as 200 displaced by Baldwin building fire
1:44
Partly sunny with chance for isolated shower on Friday for Long Island
1:46
Rainy weather impacting Long Island shore businesses
1:57
SARV Properties to pay more than $100K in fines for quality-of-life issues
2:00
Village of Rockville Centre to add surcharge to residential & commercial water bills
2:10
