PARSIPPANY — The Parsippany Mayor and Administration worked on the Township budget for seven months while most other towns completed their budgets in three or four months. The reasons for the delay in Parsippany were the serious deficits that had to be addressed. These deficits were caused by Mayor Soriano and his Administration in just three and a half years.
The Mayor initially introduced his budget in April that was not statutorily correct, including a $5 million loan (plus interest) that must be paid off within five years; a Fund Balance that may not be used; overestimating revenue and underestimating expenses. The Township Auditors had identified a number of serious errors in the budget and could not certify it. By the end of July, the Administration finally submitted a budget that could be certified.
The Mayor’s budget, submitted to the Council at its meeting on July 20, 2021, included a resolution to “Authorize Cancellation of Current Fund Appropriation Reserves”. This resolution would allow the Administration to “borrow” $1.1 million from the 2022 budget to balance the 2021 budget. The budget still significantly Overestimated Revenue and Underestimated Expenses.
These “Mayoral Gimmicks”, borrowing from the 2022 budget, overestimating revenue, and underestimating expenses, may get the Mayor through the 2021 budget, but he has pushed most of the Township’s deficit into 2022. He has “Kicked the Can down the road” so he can get reelected. He blamed the previous administration for not leaving him enough surplus.
