WPCNR CITY HALL LIMITS. By John F. Bailey. May 6, 2004: City Hall announced today that it would ask the Common Council to follow Rita Malmud's suggestion that the city look into taking over the White Plains Parking Authority, and ask the Council to approve disassociating itself from the Parking Authority effective July 1, 2004. The action was decided upon following the release of  a study by Ted Peluso, former City Finance Director, and Eileen Earl, former City Budget Director, recommending the city do this.

BRAINTRUST: Ted Peluso, left, of the City Budget & Management Committee, said the effect would transfer all assets of the Parking Authority, $8,166,000 in cash assets which Peluso said would beef up the city fund balance to about $10 Million, doubling it for consideration by the bond-rating services in the next year when they consider the city's financial position and its all-important credit rating. Executive Officer George Gretsas is at right. Photo by WPCNR News

Peluso also said the fund balance increase would not be available for use in any budget balancing acts if at all required in the 2004-05 budget, that the Parking Authority funds added to the fund balance would only be available in budget year 2005-06.

Asked what percentage of the "new, enhanced" fund balance would be available for city use in 2005-06, the Mayor's Executive Officer George Gretsas said he would have to get back to the CitizeNetReporter on that. Gretsas said all employees including the Director and Assistant Director, would be retained and benefits carried over to their city employment. Fate of the unique WPPA logo was not known.