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Depleted City Hall funds raises alarm

Feb 05, 2018 News

 

…Nearly $3B in liabilities by end of 2017

There are growing concerns over the lack of proper management and accountability of finances by the Georgetown Mayor and City Council (M&CC).
Several council members are uneasy about the liabilities of nearly $3B as of December 31, 2017 and Mayor Patricia Chase-Green is in the hot seat to provide answers to several burning questions as to growing expenditure.
In mid-January during a planning session meeting for the council’s 2018 budget estimates last month, the information about the liabilities surfaced.
Council members are alarmed by the slow pace at which information about the council’s finances are being provided when requested.
Councillor Ron Persaud has written to Chase-Green expressing concern about the finances of the Council. He told the mayor that during consideration of the 2018 estimates there was difficulty in obtaining information in a timely and transparent manner. He cited the controversial parking meter contract and the liability statement which was only made available after several request and debate.
“What is worrying to councillors is that we were asked to consider statements without detailed notes. The unwillingness and sloth displayed by the administration requires council to respond deliberately and swiftly,” Persaud wrote to the Mayor.
He noted that the liability statement provided to councillors needed to provide more detail as the debts were incurred mostly during the tenure of the present city administration.
Persaud informed the mayor that at the start of the APNU+AFC government in 2015, there was a positive bank balance of $180M.
He noted therefore, that the council is spending roughly $6M per day above all incoming funds.
“We are now at a point where we have to address how to close the gap and secure more funding to alleviate this backlog. Drastic measures must be taken so that we don’t prevail over a failed council term,” Persaud stated.
He suggested to the Mayor that there be a retreat of all councillors with a view to addressing the matters.
With Local Government Elections (LGE) slated for this year, there is an expectation that councillors will be keeping a closer eye on the management of the city’s affairs.

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