Hometown Utilicom "Business PLan" another Scheme

Hometown Utilicom “Business Plan” Another Scheme

The Borough is now desperately searching for a firm to develop a “Business Plan” for Hometown Utilicom. What will the plan be based on? Borough Manager\Treasurer Vettraino and head of HU Information Technology Director Caruso have not published any Financial Reports or Statistics on the venture for 2006 and 2007. When this information is presented how can it be verified when there are no Annual Budgets for 2006 and 2007. The financial records will also be tainted because the Borough Council, Mr. Vettraino and Mr. Caruso have illegally intertwined the finances of Hometown Utilicom and the Electric Fund with the approval of Borough Solicitors Tim Dietrich and Keith Mooney.

If the revenue, expenses and statistics of HU were published periodically as per the Borough Code the residents of the Borough would know Hometown Utilicom loses about $1 million a year, the Budget is falsified and financial reports are fraudulent.

The Business Plan came about because Mayor Green decided not to veto the $1.3 million loan ordinance and opted for an unnecessary and useless Business Plan. What is going to happen to the loan and the finances of Hometown Utilicom in the meantime? The Business Plan idea is just another scheme set up by the Borough to buy time and put off shutting down Hometown Utilicom. One resident said it would be a shame to sell HU, what makes him think there is a buyer for an outdated system that needs a $1 million updating loan.