Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : THE WHITE HOUSE -- Ignore unavailable to you. Want to Upgrade?

To: pompsander who wrote (11884)	12/2/2007 11:32:20 PM
From: pompsander	Read Replies (2) \| Respond to of 25737

TRYST FUND 'SICKENS' EX-OFFICIAL By BRENDAN SCOTT December 2, 2007 -- A former Giuliani administration official says he's "sick" over reports that his little-known agency was used to hide taxpayer money that funded police escorts during the ex-mayor's romantic rendezvous in the Hamptons. "The cover-up of this and the explanations for it have been so disingenuous," said Brendan Sexton, who chaired the Procurement Policy Board in 2000. The panel was charged $29,757 for travel bills racked up by then-Mayor Rudy Giuliani's security detail as he hung out with then-girlfriend Judith Nathan on Long Island. "He didn't want anybody to know what he was doing. That's the truth. I don't care about his personal life - it's not shocking to me that he wanted to visit his girlfriend," added Sexton, a Democrat who served as sanitation commissioner under Ed Koch. "The part that's disturbing to me is that my organization or any government organization could be used to conceal from the public how their money was being spent." The five-member board, which Giuliani appointed Sexton to lead during his first term, sets the rules for how city agencies buy goods and services. It was one of several obscure city agencies billed tens of thousands of dollars for out-of-town travel expenses during Giuliani's last two years in office. The ex-mayor denied any effort to conceal the travel expenses. Giuliani's aides say the agencies were billed as way to speed reimbursements to police officers who had escorted the mayor on his trips. "At first, I thought it was humorous," Sexton said. "I just couldn't believe anybody would do this. After that, I was sort of sick about it." nypost.com

To: pompsander who wrote (11884)	12/3/2007 2:37:39 AM
From: John Carragher	Respond to of 25737

"we also learned that Giuliani made an unusual $400,000 pre-payment to American Express in 2001," that was explained that it is common practice to spend the budget ,, they never give money back. to spend the budget they prepaid american express. this left a huge credit on the books at american express and nyc would have spent the budget. then during the next year charges going to american express would not have flowed through to eat up the new budget as they would be showing a credit being used up before hitting the approved budget line. Now if you have expense and budget planning for a large corporations you will they do the same thing. At the first of the year , you can project approved quickly, without much censorship or analysis.. later on in the year as spending exceeds a percent spent on ytd level vs projection you find top managers will shut down on spending to a point to get in line per cent year to date to come in on budget. or further up the organization larger projects have blown the budget in another department and the word comes down you just lost 10/20% of your budget.. doesn't matter if you are not spending over budget, what matters is top side spending for the corporation to come out quarterly and annually on the forecast income and expense lines. HOw do you think for decades GE comes out and beats by a penny or other companies.. its controlled controls , and manipulations of income and expenses. the real world is it happens everyday. Now to give you more background on how budgets work. it is coming to year end. Wow we are not going to spend what we projected the word comes down spend spend spend. so you find stuff to spend on.. yes you find stuff to spend money on. like pre pay next years heating bills, or supplies for the office. or new equipment (computers) (gps for every police car).. things you were planning in august for the next year budget now becomes this years expense. too bad writers don't take a couple of accounting courses, or work in the real world. some spending is so far out of line, auditors will find fault with it. some others are within accepatable accounting procedures and approved by top management and not a finding. i expect the charges to american express were spent in the first quarter and therefore within guide lines. i expect this may have been done in several departments and is still done today. ps as a manager i had projects i wanted to do buy knew i couldn't meet the 12% return on investment to get them done.. i would put them aside all ready for signature for year end. Usually in the last six weeks calls would go out from financial departments do you have any x projects you could spend this year. i would forward proposals had put aside and they would be process very happily as long as project was completed by year end. In fact in the next few locations it was expected by some analysts i worked with that i could bail them out at year end with a project or two. g