Bankruptcy warning to Kutztown Borough Council

Bankruptcy Warning to Kutztown Borough Council

I have written to the Borough many times in the past accusing the Borough Council, Mayor Green and some Borough Employees of falsifying the budget, publishing fraudulent annual reports, illegally transferring funds from all Borough Funds and departments into Hometown Utilicom, and keeping all financial books and records from the public. You have depleted all of the Borough Reserves and all reserve funds in financing Hometown Utilicom. I have also stated that the Borough is on the brink of bankruptcy and Hometown Utilicom should be shut down immediately.

By you raising all our utility rates, taxes, fees and creating new taxes and fees you have clearly admitted and shown that my statement is true about the Borough being on the brink of bankruptcy. The Borough Debt is over $29 million when you include all the funds loaned and transferred to Hometown Utilicom. It is inconceivable that the 2008 Budget contains revenue of $19.1 million, expenses of $17.5 million and the Borough Debt is over $29 million. This loan of over $29 million is insurmountable. Let me remind you that Hometown Utilicom is not a utility. It is a business venture that was created by you, Mr. Hill and Mr. Caruso who deceitfully led Borough residents to believe that Hometown Utilicom would raise huge amounts of revenue and replace the Electric Department as the Borough’s big earner. You continue to lie about Hometown Utilicom today and will not publish a financial report or audit on it.

I have written you many times about the Borough’s disastrous financial situation and your illegal activities and have not received a comment or reply to any of my letters. Not one of you will defend your actions privately or publicly. Some agencies or officials that I have complained to answered and stated it was not their jurisdiction, but they never stated that your actions were legal or acceptable. You or any of the Agencies and Officials that I have copied with my letters to you can ever say you didn’t know or weren’t aware of the Borough’s frightful financial situation.

Gennaro A. Marino P.E.