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Brookhaven Running Out of Surplus Funds

Town has recently relied on surplus funds to balance its budget, but cannot continue to do so, Times Beacon Record newspapers report.

Brookhaven Town could be out of surplus funds as early as 2014 unless officials come up with ways to save the town money, according to an article published Thursday in Times Beacon Record newspapers.

TBR reported Brookhaven's finance commissioner said the town had approximately $72 million in surplus funds in 2008, but is expected to fall to $34 million after this fiscal year, and could be depleted by 2014.

Employee benefits and salaries ate up $14 million more in expenditures than the town received in revenue in 2012, according to the report.

Brookhaven has already been operating under a salary freeze, and will continue to do so, and could consider other money-saving measures such as reorganizing town departments and services and cutting capital projects not already funded in the budget. Among other cost-saving decisions the town could make is establishing a public-private partnership in which a private company could take over the day-to-day operation of several town marinas and save the town more than $450,000.

According to TBR, the town has imposed on itself a minimum fund balance of $25 million, but it could see its fund balance dip below that requirement next year.

Click here to read the full story from Times Beacon Record newspapers.

Lee June 15, 2012 at 08:26 PM
Brookhaven had 72 million dollars in surplus funds in 2008. It is expected to fall to 34million at the end of this fiscal year. The surplus could be deleted by the end of 2014 unless the officials come up with ways to save the town money. I think that we the taxpayers should be provided with information on WHAT all of these millions of dollars of surplus has been and is being spent on!! 72 MILLION DOLLARS!!! Have WE the taxpayers benefitted from the spending of OUR tax dollars?? If so, please inform us about how this money has been spent!!
jimmy murphy June 16, 2012 at 10:52 AM
Why are we paying so much for that full time PR guy from Patchogue. The only press releases I see coming out of him are for the animal shelter and bald hill. Cut the patronage job fat, Lesko!
Matthew Lott June 16, 2012 at 12:49 PM
Jack Kreiger...who is Brookhaven's "Communications Director"... » Jack Krieger Communications Director http://www.brookhaven.org/Departments/OfficeoftheSupervisor/PublicInformation.aspx also a "Trustee" in Patchogue ? Trustee John A. Krieger - JKrieger@patchoguevillage.org http://www.patchoguevillage.org/contact.htm I mean, what's up with That $$$$$$$ !
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