WHERE HAVE OUR TAX DOLLARS GONE?????

WHERE HAVE OUR TAX DOLLARS GONE?????

I have compiled a listing of monies that are either missing or misappropriated.  I am sure there are many others that the taxpayers can come up with that I have forgotten.

1.       $32,500 misappropriated from the Economic Community Development Fund.

2.      The Town’s Revolving Loan Fund that does not revolve.

3.      The Town’s Tax Increment Financing (TIF).

4.      Two (2) million tax dollars gone from the Undesignated Fund account.

5.      The Police Vehicle scam.

6.      The “Unfavorable Expenditure” identified by this year’s Audit.

We all know that under no circumstances will we ever see any of the $32,500 again and no matter what happens; the cover-up of these funds will never be discovered.

It has been proved that once a loan is approved and the funds issued; no one monitors the repayment of these funds.  Currently there are nine (9) active loans listed as of July 1, 2013.  However, two (2) of the loans belong to businesses whom have been out of business for years and the collateral was never collected.  Three (3) businesses are far past their final payment date going back to 2008.  That leaves four (4) active; so how hard it is to keep track of four loans? 

 There are a couple of the loans that should have been written-off years ago but the town has NO leadership.

The TIF program is so screwed up that the current town manager signed the contracts with effective dates prior to him being the Town Manager.  Also, the town has been paying businesses not listed on the Credit Enhancement Agreement. 

 Lisbon Town Manager

What can I say about the two (2) MILLION tax dollars unaccounted FOR from the Undesignated Fund Account?  When our illustrious Town Manager, Stephen G. Eldridge, took office the Undesignated Fund had over three (3) MILLION tax dollars and as of the last Audit there is just over one (1) MILLION tax dollars left. 

 The Town Council just spent approximately $40,000 on wage increases.   

The Town Fathers and the Charter Commissions felt strongly about maintaining at least 12.5 percent in the Undesignated Fund Account to prevent the town from going into bankruptcy.  Because of the words “Strive to Maintain”, the Town Council does not feel compelled to maintain this balance.  At the current decent in our Undesignated Fund account, it will be no more than a year or two before the town is bankrupt.

I would like to tell you more about the Police Vehicle scam but I have not been able to compute all the tax dollars involved in this scam because the information the town has provide contradicts itself.  Also Mrs. Maloy has been double-talking trying to confuse the issue like at the last Town Council meeting.  I will provide more once I have the information.

During the yearly Audit presentation, there was an Observation on page 4 of the report that stated that in 2012-2013 there was an “Unfavorable Expenditure” that was related to the Undesignated Fund Account.   

 At the last Town Council meeting, I asked for an explanation.  As usual, Chairman LaRochelle, refused to answer any questions even under Audience Participation Response.  If you check it out, Chairman LaRochelle hardly ever answers any of our questions.  The council totally ignores the Public’s concerns. 

 However, on Friday I submitted another Freedom of Access Act (FOAA) requesting copies of the Purchase orders involved in this “Unfavorable Expenditure” and IF I receive it I will post it for all to see.

I believe that it is time this community demands a Forensic Audit.  I understand that it is costly but it cannot be as costly as all the money the town cannot account for.  Wouldn’t it be nice to know where our tax dollars are going and who is taking them?

Larry Fillmore

 Responsibility lies with the above faces. (left to right, Gregg Garrison, Roger Bickford, Dillon Pesce, Lisa Ward, Fern Larochelle, Stephen G. Eldridge, Gina Mason, Mark Lunt, and Town Clerk,Twila Lycette