A million bucks, [that's FOUR MILLION quarters weighing almost 50,000 pounds], reported missing from the Hoboken Parking Utility "parking meter" collections revenue?  That was the question asked by Hoboken Third Ward Councilman Michael Russo at the City Council's Budget Hearing on December 6, 2006. 

Two weeks later at the December 19, 2007 City Council Meeting, Parking Utility Director John Correa advised the Council that he initated an internal audit of parking meter revenues in response to Russo's inquiry.  The audit showed a difference of Thirty-Four Dollars and Sixty-One cents ($34.61).  Sixty-One cents?  Damm, those "penny parking meters" can really screw up the accounting system. 

• January 16, 2008 City Council meeting: The public speaks out on the "missing" funds.
  

• February 6, 2008 meeting: City Council members discussed the recently received New Jersey State mandated "auditors report" for FY2007 (July 1, 2006 - June 30, 2007). 
  

• 2nd Ward Councilwoman Beth Mason "carefully" expresses her concern about accounting deficiencies.
   
  
• Fifth Ward Councilman Peter Cunningham comments "I have serious concerns with the lack of controls picked up in this years audit.  I am extremely upset over the audit findings over our lack of controls with cash." Cunningham also called for a FORENSIC ACCOUNTANT to look into the matter and said "For God sake, clearly, this audit indicates that we've got money going out the back door and something needs to be done about it."

City Council Resolution hiring "coin collection" contractor

Edmecka.com has compiled a 16 minute video so that you can see for yourself what transpired at the four City Council meetings.  Click on the image to watch the video.