Let's Put an End to the Irresponsible Fiscal Oversight

The Post below is from East Greenbush Truth.  It's too good not to be a "guest editorial" on the Gadfly.  Read Away!!


We are 11 days away from one of the most contentious elections in East Greenbush and our East Greenbush Republican Committee has failed to file 5 of the last required financial disclosure reports to the Board of Elections.  This is the same committee that has helped run our town further into the ground over the last 4 years.  This is the same committee who is supporting a CFO who has also played a hand the deteriorating condition of our town’s financial records. Our town’s credit ratings have fallen below junk bond status, with 3 of our general obligation ratings now completely withdrawn because our CFO, under the leadership of our EG Republican party, has failed to provide an audit of our town much like the committee backing him has failed to file their required financial reports.  Our Supervisor has failed to provide a verified audit in his tenure as our town’s CFO.  We not only became the laughing stock of the Capital District when our town was put under a microscope during the casino fiasco, but we were embarrassed to find out that we paid two respectable accounting firms nearly $70,000 to attempt to complete an audit but were unsuccessfull because our financial records are too much in disarray.
The committee is requred to file a 32 Pre Primary Report, an 11 Day Pre Primary Report, a 10 Day Post Primary Report, a 32 Day Pre General Report, and an 11 Day Pre General Report – none of which has been filed.  New York Election Law requires that any candidate or committee raising or spending, or expecting to raise more that $1,000 must file.  Candidates and committees must disclose all financial activity made in connection to their own campaign or in support of a candidate.  Candidates who do not exceed the $1,000 threshold may file an “In-Lieu-Of-Statement,” however NY Election Law prohibits constituted and party committees from filing such statement.  NY Election Law 14-124(4) states:  “The only committee that can file In-Lieu-Of-Statements are authorized committees supporting one candidate or a committee solely supporting or opposing a ballot proposal/proposition.”
If there is no financial activity, then such candidate or committee must file a “No Financial Activity” report.  It is factual that the East Greenbush Republican Committee has incurred financial activity.  In the July 30th Advertiser, Ed Gilbert wrote an ad supporting Keith Langley that was explicitly paid by the East Greenbush Republican Committee.  Ironically, this piece was to call out former candidate Michael Poorman for failing to file his required financial disclosures.  (https://eastgreenbushtruth.files.wordpress.com/2015/03/ed-gilbert.png)  On September 3rd The East Greenbush Republican Committee paid for two ads in The Advertiser, “A Message from East Greenbush Republican Town Chairman Dan Fiacco ‘Supervisor Keith Langley Deserves Re-Election'” (https://eastgreenbushtruth.files.wordpress.com/2015/03/republican-committee.png) and the infamous “Turnaround” ad (https://eastgreenbushtruth.files.wordpress.com/2015/03/langley1.png).
The East Greenbush Republican Committee has hosted at least two fundraisers since the July Financial Disclosure Report, one on August 11th when they hosted the “Fundraising Reception in Support of Larry Lenartz and Trent Tibbitts” and the other on October 13th for their “Celebration Event.”  Both events requested that checks be made payable to the East Greenbush Republican Committee.
In 2011, before our Supervisor took office Moody’s had actually upgraded our credit rating from “negative” to “stable.”  Two years later when our Supervisor was in office for a year and a half we were put on a list of cities/towns facing bankruptcy.  Almost 4 years into our Supervisors role as CFO Moody’s downgraded us and withdrew our credit ratings.  Is this the person or committee you trust?  The pattern of our CFO and his respective Republican Committee failing to provide the necessary financial disclosures (for our town, a verifiable audit) needs to end.  We the residents can make that happen on November 3rd, 2015, our town has suffered enough!