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WRIGHT, BEAN & DEMPSEY FIND GROSS OVERSPENDING IN BELMAR’S BUDGET

Detailed study shows Belmar spending $2.1 MILLION MORE for same services

September 14, 2010, BELMAR, NJ – Richard Wright, Jim Bean and Greg Dempsey, candidates for Mayor and Council here, have released a detailed study of Belmar’s municipal budget and resulting property taxes entitled, The Tax Escalation on Belmar Residents.  The six-page report contains an in-depth comparison of the 2010 Belmar and Manasquan municipal budgets, and shows compelling data on Belmar’s municipal overspending and lack of fiscal management which has resulted in tax increases for the last seven years.

“By far, the biggest concern of Belmar residents is high property taxes,” says mayoral candidate Richard Wright.  “We literally hear people say, ‘I’m not sure if I’m going to be able to continue to live here because the taxes are so high,” he says.

 “They always follow with, ‘I love Belmar, but I just can’t afford it when the taxes go up every year’,” he adds.

 The study, available online at the team’s campaign website www.BetterBelmar.com, compares the municipal budgets of Belmar and Manasquan, two municipalities similar in demographics and geographics.  Yet, the study reveals that by the end of fiscal 2010, Belmar will outspend neighboring Manasquan by $2.1 MILLION, even though Belmar is smaller, has fewer residents and brings in more revenue from non-tax sources.

 “The lack of fiscal planning in Belmar is stunning,” says Jim Bean, a candidate for Belmar Borough Council. “With a young family like mine, I need to keep as much of my hard earned money as possible—NOT give it to the government.”

 Running mate Greg Dempsey agrees.  “People just can’t take any more. We have neighbors who have lost their jobs or are working two jobs just to keep up. They are spreading less income further to pay their bills, and rising taxes aren’t helping.”

 Wright adds that the Republican teammates are the only candidates who possess the private-sector, real-world experience managing budgets, meeting payroll, and reducing operating expenses.

“When the rubber hits the road, we’re qualified. We have the practical experience to fix the financial problems facing Belmar,” he adds.

Wright is a retired financial executive who spent his career building growing companies and managing companies through contractions; Bean is an information technology director and efficiency expert who coordinates the needs of several companies at multiple locations; and Dempsey is a veteran account manager who negotiates international contracts and has supervised hundreds of employees. The team is highly qualified and sincerely passionate in their desire to make their hometown more affordable and taxpayer friendly.

Other results of the study include: 

  • Over the past decade, Belmar’s population has declined yet taxes have gone up.
  • Belmar collects more non-tax revenues, yet Belmar’s taxes are OVER THREE QUARTERS OF A MILLION DOLLARS HIGHER than Manasquan’s.
  • Belmar spends $2.1 MILLION MORE on its municipal services than this town of comparable size and population.
  • Belmar’s insurance costs are $1 MILLION higher than Manasquan’s.
  • Belmar’s worker compensation insurance is TRIPLE what Manasquan pays.
  • Belmar’s general liability insurance is TWO AND A HALF TIMES Manasquan’s.
  • Belmar’s medical insurance is approximately $168,000 higher. 
  • Belmar pays over $600,000 in supplemental retiree medical benefits that other towns, like Manasquan, do not cover.
  • Belmar’s utility costs exceed Manasquan’s by nearly A QUARTER OF A MILLION DOLLARS.
  • Belmar’s pension expense and Social Security Taxes are nearly A QUARTER OF A MILLION DOLLARS higher.

 Wright says that Belmar’s problems are the results of many years of what he calls “small bad financial decisions,” which add up to “a very big fiscal problem.”

 “Belmar’s are the types of problems faced by many businesses I have worked with over my career.  Correcting the overspending and lax management involves sitting down with all the interested parties, understanding what is really happening and deciding the best way to achieve efficiency without diminishing critical services,” he says. “We can fix this if the voters give us the opportunity.”

 For a complete copy of the study The Tax Escalation on Belmar Residents, log on to www.BetterBelmar.com.

Posted: September 14th, 2010 | Author: | Filed under: Belmar | Tags: , , , | Comments Off on WRIGHT, BEAN & DEMPSEY FIND GROSS OVERSPENDING IN BELMAR’S BUDGET