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Late treasurer's surprise to Linden: $44M
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| Contributor | *crickets chirp* |
| Last Edited | *crickets chirp* Apr 15, 2005 03:56pm |
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| Category | News |
| Media | - |
| News Date | Friday, April 15, 2005 09:00:00 PM UTC0:0 |
| Description | "After raising taxes 41 percent over the last five years, Linden lawmakers claim they were surprised, even troubled, to learn recently that the late Joseph Suliga had amassed $44 million in the city's reserves.
During his 17 years as Linden's treasurer, Suliga, a former state senator and financial virtuoso who died in a February car crash, socked away millions into pension funds and rainy-day accounts.
Linden Mayor John T. Gregorio and most of the councilmen said they learned of the reserves from the city's new treasurer during budget talks. The realization prompted them to propose a tax cut.
It also sparked finger pointing among politicians over who should have known about the surplus and set off speculation over Suliga's intentions."
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