Margate’s new Business Admin, Ken Mosca, has quite the task in front of him. Mosca will help draft Margate’s massive money plan for 2023.
According to CFO Lisa McLaughlin, the Margate fund surplus increased substantially over the last few years. You can thank crazy home values and cheap money for that.
In 2022, Margate began with a cash surplus of $8.7 million dollars.
Margate ended 2022 with $9 million in surplus. That’s $265,000 more than anticipated.
Those on a fixed income or tight budget asking if Margate tax relief is on the way. Don’t count on it, say municipal insiders.
Mosca will play key role in whacking up $9 million in tax revenue surplus.Margate Elite 2023
Margate CFO Lisa McLaughlin, says millions in extra tax money will help pay for public employee salaries and benefits.
CFO blames historic price increases:
- Employee pensions
- Employee health insurance.
- Employee longevity pay
- 6-figure salaries
In addition, non-compliant sick/vacation payouts continue to place a heavy burden on Margate taxpayers. Goes against State of NJ guidelines.
Cost to operate Margate going up. Employee salaries and benefits make up major portion of budget.
What services or items are facing the financial chopping block? CFO Lisa warns she has to analyze it a bit more carefully to see what cuts can be made.
Maury Blumberg, Margate’s Commissioner of Revenue and Finance did not provide comment during the meeting.
Social Media Public Comment: In order for Margate to attract young families full time, city needs to fulfill promise of more affordable homes.
Margate welcomes Ken Mosca as the new Business Admin, replacing Rich Deaney. Mosca could reverse Deaney’s ill-advised shut-down of remote participation from 2nd homeowners via ZOOM. But don’t count on it.
Deaney is a resident of Ocean City. Who the hell is he to block online participation to Margate meetings?Jerome Ave Residents
Lack of transparency. Margate only provides audio feed of both Commissioner and Planning Meetings. No video feed/stream. Ignoring pleas from seniors, Deaney blocked public comment from those listening remotely.
Margate still bans online video or live, online audio access to school board meetings.
Mosca was formerly public affairs mgr for Atlantic City Electric. He was also Business Admin for Linwood and Ocean Township .
Solicitor John Scott Abbott mentioned a potential lawsuit between North Wildwood and NJ DEP. The courts are allowing North Wildwood to sue the DEP. Their sand dunes cliffing. They’re all about 12 foot high. A sheer wall.
20 years ago, Ventnor City wanted to bulldoze a dangerous, 12ft dune cliff. State of NJ said no.
A child died in Ocean County. Kids playing at the bottom of a dune cliff. Sand caved in, suffocating the child.
Margate Solicitor Abbott: I hope they get it resolved. I’m paying attention. I don’t understand why NJ DEP couldn’t get that worked out with them. But it’s not our headache, but I’m paying attention says Abbott.
4 thoughts on “How will Mosca Manage Margate’s Massive Surplus?”
Hopefully they don’t waste or mismanage these funds and continue to keep our taxes affordable.
I doubt it will happen, and we the residents will end up digging into our pockets again.
Second homeowners like me who can’t vote are awed by the backseat driving of locals who can vote, don’t vote and then whine with the usual baseless allegations of wrongdoing that is the norm on here.
Overheard in Margate last week: Yo Maury, turn the camera back on. What are you hiding?
Maybe Margate should set aside some of surplus to restore the residents’ homes on Amherst Ave that where damaged by City’s road construction project in 2021.
Margate City failed to adequately monitor the contractor’s work which undermined the foundations of several homes causing serious damage to the properties.
Two years have passed and the city has done nothing to assist the homeowners who have incurred significant legal and engineering costs in pursing the contractor’s insurance company which has refused to negotiate a settlement.
The homeowners are completely blameless but have been forced to live in damaged homes and fend for themselves. The situation is outrageous.