Here’s the first segment posted in our series of the comprehensive interview with Judy Tripodi, the fiscal state monitor last Thursday. In this audio* portion (part III), Judy highlights ramping up the maintenance side in equipment and what is prudent in a five to seven year plan. She also discusses how Hoboken can better tackle the proper accounting management approach in equipment for big ticket items for Police, Fire, and infrastructure.
In addition, there’s a comparison of the cash flow improvements with one million in TANs (short term financial bonds) going away, retirements, and other areas that will not be present in the 2011 fiscal year budget beginning July 1.
Judy also discusses the efforts to bring up the financial records to a much higher level of execution and functionality, internal accounting, and the new accounting software tools/software implemented. The package updated in the City is Edmunds, a firm providing integrated financial accounting and municipal software for local governments since 1984. Locally, there’s a mention of its implementation in Hackensack here.
* All segments are in audio, unedited, complete and unrehearsed.