Colonie Town Board member Dan Dustin is calling on Town Supervisor Paula Mahan and the Colonie Town Board to adopt a resolution requiring the Town Comptroller to provide comprehensive quarterly updates of the Town’s financial status to the Town Board and the public. Dustin will discuss the resolution at the Colonie Town Board meeting, Thursday, February 11, 2010 at Colonie Memorial Town Hall.

The proposed resolution aims to create more transparency in the Town’s budget implementation process to ensure that decisions made by the Town Board today are well-informed and will protect the financial health of the Town. “The Town Board and taxpayers have a right to be provided with timely and accurate information about the Town’s finances in order to have a better understanding of the issues and their financial impacts,” said Dustin. “Ideally, the Town Board should receive monthly financial statements but this is a first step in the right direction” Dustin added.

Dustin’s proposed resolution is especially timely given that Supervisor Mahan is proposing $26 million in new debt for the Town.  Resolutions authorizing the Town to issue this increased debt are slated to be considered by the Town Board at their meeting Thursday night.

“I am concerned that Supervisor Mahan is effectively using the Town’s “credit card” to balance the Town’s financial books.  As consumers, we all know that this approach in the short-term seems like a solution, but in reality, it is recipe for long-term financial disaster. Without detailed information on the Town’s overall financial position, a new up-to-date review by Moody’s and a clear capital and debt service plan, the Town Board cannot carry out its fiduciary responsibility to Town taxpayers and I would strongly urge the Town Board not to approve any new debt issuances.  The strategy being forwarded by the Supervisor is short-sighted and will impose an unnecessary financial burden on our children.”

Dustin’s calls for more transparency also come at a time when the Town has experienced a significant drop in sales tax revenue,  is bracing for a State budget that would reduce State aid, and needs to prepare for large increases in pension costs. 

“My proposal would ensure that the Town Board has timely, accurate and comprehensive information about the Town’s finances when they are making decisions about spending and hiring,” said Dustin. “In addition, the Town Board and Town taxpayers need to know how the Supervisor and Comptroller are proposing to manage theses issues now and in the future. The information currently provided by the Comptroller and the Supervisor is not adequate for the Town Board to make well-informed decisions and the public has been kept in the dark on the Town’s financial position.”

Municipalities must seek a rating from a bond rating agency when they issue long-term debt in the market.  This requirement can be circumvented if a municipality issues the debt as short-term or seeks to sell debt privately. However, municipalities can seek a rating from a rating agency at any time. Shorter-term debt typically carries a higher interest rate than long-term debt.

At the state level, the State Comptroller provides the Governor and the State Legislature with monthly financial updates and the State’s bond rating is reviewed annually.

Dan Dustin was elected to his first term as Town Board member in November 2009.  He is a Certified Public Accountant. 

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In a letter dated January 11, 2010, addressed to Supervisor Paula Mahan, Dr. James J. Yarmus, PhD and president of the NYS Society of Professional Engineers criticizes the appointment of Jack Cunningham as commissioner of public works.

Yarmus cites the position’s job description as one that requires a professional engineering license as recognized by New York State as a critical component and contends, “Giving an unlicensed individual authority over the operations and maintenance of this critical public infrastructure not only jeopardizes public safety, it also potentially burdens the town from a liability standpoint.”

The letter was referenced in the organization’s most recent electronic newsletter that was distributed to its entire membership after the appointment of Jack Cunningham was made public by a January 6, 2010 Times Union article and publicly criticized by Colonie Town Board member Dan Dustin.

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Editor’s Note: Find attached, the letter from Dr. James J. Yarmus, PhD, PE and NYS Society of Professional Engineers president to supervisor Paula Mahan. For more information about Dr. Yarmus and the NYS Society of Professional Engineers, visit their website: http://www.nysspe.org/index.php

The series was created in an effort to build party enthusiasm and support while bringing town residents and committee members together to exchange ideas about the future of the town and its leadership. “We are very pleased with the turnout of our first event and look forward to seeing some new faces at the next event” said committee chairman, John Graziano.

The first event took place at Vin Santos Tapas Wine Bar and was attended by over 75 Colonie residents and committee supporters. For updates about upcoming networking events, visit us at: www.coloniegop.com or join us on Facebook.

Reacting to the January 6, 2010, Times Union article “Ex-Bethlehem Supervisor Lands Job Running Public Works Department in Colonie,” Dustin is urging his colleagues on the Town Board to work together and establish a transparent, bi-partisan search committee for qualified candidates that reside in the Town. “There was absolutely no public process for the selection of these two appointees” said Dustin. “The fact that I learned of these appointments through an article in the newspaper is very troubling to me as a Town Board member” he added.

In conjunction with the lack of public input, Dustin finds issue with the outsourcing of a high paying Town position to non resident, Jack Cunningham. “The position of Public’s Works Commissioner pays over $100,000 per year, why would we choose to pay someone, qualified or not, with Town money that will not go back into supporting the businesses or tax base of the Town?” “As a community working to get out of debt, shouldn’t we look to keep that money here?”

Another source of concern for Dustin is Burick’s lack of experience and heavy involvement in Supervisor Mahan’s campaign last fall. The January 6, Times Union article quotes Supervisor Mahan saying “He has a good background that would lend itself to coming in and learning this position” regarding the appointment of Burick. “The Town’s Commissioner of Civil Service position should not entail on-the-job training which raises serious questions about Burick’s appointment.”

Town Justice, Peter Crummey administered the oath of office, swearing in Town Board Member, Dan Dustin, Town Clerk, Elizabeth A. DelTorto, Receiver of Taxes, C. Michele Zilgme and Town Justice, Andrew Sommers.

The ceremony was followed by a reception to pay a special tribute to outgoing Town Board members Brian Hogan, Nicole Criscione-Szesnat, Thomas With and Town Justice, Susan Tatro. “Showing our appreciation to outgoing Board members while welcoming our incoming elected officials was a great way to start off the New Year” said Chairman, John A. Graziano, Jr. “We look forward to working with our colleagues in the Town of Colonie and serving residents in the best possible manner, in 2010,” added incoming Town Board member, Dan Dustin.

The series was created in an effort to build party enthusiasm and support while bringing town residents and committee members together to exchange ideas about the future of the town and its leadership. “We are very pleased with tonight’s turnout and look forward to seeing some new faces at the next event” said committee Chairman, John Graziano.

The next event, scheduled for January 13 at Lainie’s Café, located at 471 Albany Shaker Road from 5PM-7PM is open to all and will include drink specials and finger foods. For more information about the Colonie Republican Committee, visit: www.coloniegop.com or join us on Facebook.