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City on surplus: let’s hear the truth from the auditors

City of Hoboken announces:

CITY AUDITOR CLARIFIES SURPLUS ISSUES
Due to confusion that was created by Council President Mason’s letter to constituents, the City asked for clarification from the City’s auditor regarding the budget surplus.

The letter speaks for itself, and in the interest of ensuring a full understanding of this issue, the public is strongly urged to read the auditor’s letter in its entirety to understand the full facts regarding Hoboken’s surplus and the manner it is legally permitted and fiscally appropriate to be used.
The letter can be viewed on the City website: http://www.hobokennj.org/docs/businessadmin/auditor-letter-3-23-11.pdf
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