FOR IMMEDIATE RELEASE

Parsippany, NJ – Councilmembers Janice McCarthy and Emily Peterson made the following statement today thanking the Murphy Administration for their assistance in providing special emergency funds to the Township.

“At the Finance Committee meeting on May 25th, Parsippany Chief Financial Officer Juan Uribe announced that the $5 million loan that the Administration requested in early April was no longer necessary after receipt of the $2.7 million in American Rescue Funds. Business Administrator Carr asked the Town Council on Tuesday to vacate the $5 million emergency borrowing resolution. While reducing the loan amount is good news, Parsippany still faces an estimated $2.8 million budget deficit in 2021. What actions the Administration will take to address this deficit are still pending.

Even though the State has supported Parsippany by approving special emergency borrowing, the Administration continues to take issue with the NJ State Division of Government Services for not properly understanding their own guidelines on emergency borrowing requirements and for providing what they say is inaccurate guidance.

For the record, any statement in recent reporting claiming the township’s $9 million deficit is related to the pandemic is inaccurate. The $9 million deficit is a result of years of reliance on transfers from the utility surplus. This will require diligent fiscal management for the foreseeable future to resolve. The task at hand now is to address the 2021 deficit and pass a budget that works for all residents. The Council is eager to review the proposed budget once submitted on June 15th during our next meeting.”