Hi

At the most recent West Vincent Township meeting of March 7, 2016, a representative of Auditing firm Barbacane, Thornton & Company LLP addressed the audience to explain the most recent Township audit. This is the first time of record that I know of that the Auditor has ever come to a Township meeting to talk to the public. It was a thorough discussion and it can be viewed here: https://youtu.be/E2nsmuErKWY?t=3410

John Jacobs requested that the latest audit be listed on the website so that it is available for the public. There was a discussion with the audience and the request was changed to include the last 3 years to oblige some of the audience. The Auditor said supplying this information would not be a problem if Tammy needed it electronically. How great is that? You can look over the financial condition of the the township for the last 3 years. And here is what you will discover:

2013 - $384,000 surplus
2014 - $529,000 deficit
2015 - $325,000 deficit

3 year cumulative: $470,000 deficit

Wait! I don't seem to remember Jim Wendelgass letting people know that in 2014 the Township ran over a HALF MILLION DOLLAR DEFICIT in 2014, and then the same conduct continued in 2015. 2013 would have been protected from running a deficit because of the 2012 re-financing of an $8.9 million ($8,900,000) debt included and additional borrowing of almost $1 million ($1,000,000), which would have created a cash windfall making the books look much better. Without that extra money, I suspect the “$384,000 surplus” would not have existed.

Here is an article from the Daily Local about the borrowing:

West Vincent OKs debt refinancing
http://www.dailylocal.com/article/DL/20120316/NEWS01/120319626

and here are two articles I wrote in 2012 on the subject. Google "West Vincent Chickenman and select the year 2012:

10 March Funny WVT financing

18 March WVT over budget
This one is interesting because it shows that the taxpayers paid $112,000 to outside sources in order to save no money. The BOS cashed out all of the interest savings plus they borrowed more money, approximately $150,000.

So there you have it folks. In the last 3 years of the Miller Administration, 2 years of absolute bonafide deficits and one that most likely would have been a substantial loss had there not been a million dollar cash infusion in the prior year. That cash infusion is financed and you, the taxpayer will be paying for it through the year 2031.

Welcome to the legacy of the former administration of Miller, Quinn and Brown that I have been warning about. Thank you for getting the first two out of office.

Best Wishes

Chickenman

To see my previous mailings just Google chickenman west vincent.  As usual, if you want to be on or off my list, or have some comments or suggestions, or know someone who would like to be on the list, please let me know.  Just  write to chestercountynews@gmail.com  Feel free to forward this email on to anyone you think might be interested.