Issues

ANNA THRONE-HOLST

Issues

These Are The Issues
In This
Campaign For Southampton's Future

Financial Management & Leadership

Anna Throne-Holst at work on the Council

If you’re concerned about the way in which finances have been handled in the Town of Southampton, you are not alone.

On August 20th, Standard & Poors issued a press release stating the town was being put on rating watch for a possible reduction in the town’s bond rating. Moody’s is also reevaluating the town’s bond rating.

S&P has indicated that putting the town on rating watch “reflects what we believe might be material discrepancies” that could lead to “a much weaker overall financial position than had been represented to us by the town in the past.”

If the town's credit rating is reduced, it will mean increased borrowing costs. Increased borrowing cost will result in a direct increase in the cost of town government.

You can read a full report about this latest piece of financial news at Bloomberg.com,

Once you’ve read the full report, you will understand why, since her first few days in office, Councilwoman Anna Throne-Holst has been focused on

Identifying systemic problems.
Responding decisively to correcting those problems.
Developing effective, reliable, and transparent financial management procedures.

To that effect, she has:

Recommended against hiring an under-qualified individual as town comptroller. In spite of her recommendation, the individual was still hired and remained in office throughout the term of the current supervisor until May 31st of this year.
Proposed a comprehensive forensic audit of the town’s cash accounts and capital funds. A forensic audit of the town's police fund revealed a deficit of $8 million.
Introduced newly appointed Tamara Wright to the town, suggesting she be appointed as comptroller. Initially, Ms. Wright was engaged as a financial consultant. In that capacity she was instrumental in beginning to unravel the financial mess that has been plaguing the town. As of June 1st, Ms. Wright has agreed to serve as comptroller until the end of this year.
Brought forth, in February, 2009, a resolution that would have resulted in an immediate reorganization of the town’s financial management structure. That resolution was voted down by the town board’s Republican majority. Five months later, the board acquiesced and agreed by unanimous vote to the reorganization.
Together with Councilwoman Sally Pope, called for a New York State audit of the town’s financial records. The state comptroller’s office has agreed to conduct the audit and this effort is now underway.

Clearly, Councilwoman Anna Throne-Holst has demonstrated the organizational skill, experience, and the leadership ability to put Southampton back on the right financial track.

My priorities are these:

Fixing the financial mess

I have already started in bringing reform to the town’s financial management and systems and controls. I assure you our Town will never again see a financial mess as the one we are dealing with today. We will put the system safeguards in place to ensure transparency. We will bring prudent planning and responsible control to the management of the taxpayers’ money. We cannot control taxes or meet our fiduciary responsibility to our residents by doing any less.

Putting people before power brokers

The relationship between Southampton’s government and its people must change. Government officials must be public servants, not power brokers. We must bring our diverse communities together as partners to solve problems and to govern effectively. Too often, elected officials have played one interest against another, producing conflict instead of consensus. There is a better way. And I have built a career on bringing a culture of mutual respect and inclusiveness wherever I have worked and it will be no different – although new -- to Town Hall, I promise.

Knowing where we are going

Southampton needs Strategic Planning. It may sound lofty and wonkish but it is simple common sense. What do we want Southampton to be in three, five, ten years or more? Are we making the kinds of decisions that will help us all reach that goal? It is what every successful, well-managed business and municipality develops and works from -- and it has been sorely missing in Southampton. Sound planning and visioning is the opposite of past and current reactionary, shortsighted decision-making. We cannot continue to stumble from crisis to crisis.

Anna Throne-Holst speaks out about Southampton's budget...

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