NYC budget
The Speaker's Private Accounts
A NY Post article, printed two days ago, exposed the fact millions of our tax dollars have been set aside in phony accounts for later, quiet if not private, use. Since then, Speaker Christine Quinn has been on something of a hot seat.
We still don't know all the facts. What we appear to know so far is the following:
1. The law requires the City Council to allocate all funds at the beginning of the fiscal year.
2. Often, expenditures must be made during the fiscal year that were unanticipated at the beginning of that year.
3. Since at least 1988, the Council has set aside some money to provide for unanticipated costs. Recently, at least, that money was officially allocated to phony accounts.
4. The Speaker claims that she ordered this practice stopped and didn't know until very recently that her order was ignored.
It appears that no laws were broken. But the Speaker has been
Christine Quinn | NYC budget
