Fiscal Responsibility
One of biggest successes of Hoboken in the last year has been Mayor Zimmer and the City Council’s progress in restoring fiscal responsibility at City Hall. In the past, recurring expenses would exceed annual revenues, creating structural deficits and requiring one-shot revenue sources and other gimmicks to hide deficits and maintain an artificially low tax levy.
However, for the first time in years, the Mayor and City Council adopted a fully funded budget with none of the gimmicks of the past. The Administration has also hired a Business Administrator, Arch Liston, who is assuming the role of the State Monitor, Judy Tripodi, who has been relieved of her duties in Hoboken. The end result of these accomplishments is that, within less than a year of the Mayor assuming office, Hoboken has been released from state fiscal control.
Further steps to restoring fiscal responsibility are on their way. A review and action to adopt certain findings in the State’s audit of the Hoboken Police Department is under way. An outside auditing firm shall be retained shortly to conduct a similar audit of the Fire Department to identify inefficiencies and further opportunities for cost savings. We are also in the process of working towards a forensic audit of other departments in City Hall to identify where we can reduce waste and save tax dollars. Finally, we have started the process of revising the tax maps of the City of Hoboken in anticipation of a revaluation of property assessments citywide to ensure that the tax levy is distributed in a more equitable manner.
My commitment as your Councilman is to continue to work to see that property taxes are reduced further, and that your tax dollars are used wisely and in an efficient manner.