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Jersey City Audit Reveals Deep Financial Woes | New York City News
Jersey City’s latest financial audit reveals shocking mismanagement: overspending on health benefits, chaotic budget tracking, and no complete inventory of city assets — all while facing a massive deficit. The current administration blames the outgoing mayor for leaving the city broke, pointing to risky moves like using bonds and selling off property. Auditors warn of potential federal repayment issues and millions in unrecoverable police bills. Despite criticism from top officials calling the former mayor “very bad,” he dismisses it as politics. Two key fixes are underway: building an asset…
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