(Long Island, NY) Today, the following statement was released from George Maragos:
Weitzman was in office for eight years and did not notice, as the taxpayer watch dog, 130 un-reconciled bank accounts in the Treasurer’s Office with $400 million being mismanaged. My audit found these accounts and fixed the problem. We reduced the number of accounts, ensured that they were reconciled monthly and put in place appropriate cash management procedures were put in place to maximize interest income. The Department was also streamlined to achieve productivity improvements which resulted in savings of approximately $2 million annually for a 50% annual savings over the last year of Weitzman’s tenure.
Merging the office that manages the cash with the Comptroller’s Office, which oversees the use of the cash, would destroy the check and balance system that ensures that taxpayer money is protected and well spent.
The Comptroller’s office has the power and the responsibility to audit the Treasurer’s Office to ensure that taxpayer funds are protected. The ill-conceived merger proposed by Weitzman would eliminate the independent oversight and place hundreds of millions at risk by a disreputable Comptroller. Maybe this is what Weitzman wants if he is returned to office?
This latest ill-conceived idea is in line with Weitzman’s past distractions while in office resulting in Suozzi raising taxes 23% to pay for raises to himself and Weitzman.
