Paterson Budget Crisis: Bankruptcy Looming? | Paterson Times

Paterson Budget Crisis: Bankruptcy Looming?

The fiscal year started on the first of July, it has been two months, no budget is in sight. The mayor, Jeffery Jones and the city council are at odds about the budget. Paterson has been running on temporary budgets approved by the city council, but last night a temp budget for the coming month was voted down by council members.

City council wants an annual budget, but political observers think the Jones’ administration is playing politics; it is speculated that Jones is still angry at the city council for the flood overtime scandal which resulted in the dismissal of some key officials, after a city council investigation.

If a temporary budget is not passed within the next few weeks the city could face bankruptcy. The temporary budget measures did not pass because of a single vote.