McKeesport officials can't agree how to proceed with $14 million in city coffers

Dec 7, 2011 | Posted by: roboblogger | Full story: PittsburghLive.com

Jennifer R. Vertullo is a McKeesport Daily News staff writer and can be reached at 412-664-9161 x1956 or via e-mail. As McKeesport council prepares to adopt the city's 2012 spending plan, officials still disagree on how to proceed with a $14 million sum intended to support future budgets.

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Portent of things to come

Belle Vernon, PA

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Dec 7, 2011
 

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As McKeesport council prepares to adopt the city's 2012 spending plan, officials still disagree on how to proceed with a $14 million sum intended to support future budgets.
While a resolution is on tonight's agenda to withdraw from escrow funds that city administrator Dennis Pittman says should not have been placed in the escrow account, questions remain on how council will proceed with the remainder of the money.
Pittman referenced the remaining $14 million from the city's transaction with the Municipal Authority of the City of McKeesport in which MACM pre-paid a $24 million mortgage on the purchase of its sewer lines from the city.
That $14 million is intended to serve as a consistent revenue source for budget years 2012, 2013 and 2014 as it lays groundwork for financial plans in 2015.
Pittman asked that council reconsider its previous decision to leave the funds in a non-interest bearing account until an investment is made. He asked that a new ordinance be written to allow the $14 million to gain interest as the investment process continues.
"I'm thinking we do the ordinance, and move it to an interest-bearing account until the investments are made," Councilman Dale McCall said.
Council president Michael Cherepko said those funds would already be invested if Pittman would have signed documents necessary for the PFM Group to perform a third-party analysis on potential investments.
"If this paper was signed for PFM in August, it would be making money now," Cherepko said. "Fact."
Pittman insists that the $12,500 fee for the analysis is not justified and that even non-professionals would provide the same assessment.
Cherepko's "fact" insert likely was a response to a memorandum titled, "Failing to plan is planning to fail, and failure should not be an option!," which Pittman distributed to council earlier in the day.
After the meeting, Pittman tossed the memorandum and said, "You can attach this to my retirement letter."
The memo lists four sets of "facts" and the "actions" required to resolve them. All of the items related to the $14 million and council's understanding of those funds as members pass the 2012 budget and future spending plans.

In other business, council will consider:

• Authorizing the city to provide start-up loan funding to allow Blue Roof Technologies to take part in a grant-funded project to construct six handicapped-accessible smart homes on two sites for McKeesport Housing Authority
• Subdividing the Yester Square section of Crawford Village into four parcels that would allow for reconstruction of taxable housing units in the city's Eighth Ward
• Approving Home Consortia Grant Funds used in a cooperative agreement that serves entities working toward community development in McKeesport, Penn Hills and Allegheny County.
http://www.pittsburghlive.com/x/pittsburghtri...
Blago Got 14 Years

Mckeesport, PA

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[QUOTE Cherepko's "fact" insert likely was a response to a memorandum titled, "Failing to plan is planning to fail, and failure should not be an option!," which Pittman distributed to council earlier in the day.
After the meeting, Pittman tossed the memorandum and said, "You can attach this to my retirement letter."
The memo lists four sets of "facts" and the "actions" required to resolve them. All of the items related to the $14 million and council's understanding of those funds as members pass the 2012 budget and future spending plans.
[/QUOTE]

Pittman is retiring vice of firing? WOW!

What a witness or source of information when this illegal fiasco is escalated to the authorities. Mike be smart and beg him to stay or you and others may pay dearly! For preservation of the machine and others, make peace and pay him what it takes to drop his opera lessons. Former Gov. Blago got 14 years.

They (machine puppets) will try to demean and blame Pittman and Malinchek.

Remember that Malinchek tried to establish what the interest rate would be on the escrowed $19 million; Cherepko had MPD’s finest remove him from council’s meeting.

This one will tough for Mike to explain to the authorities. Seems like the controller figured out the scheme and Mike silenced him with ejection from the meeting.
Pubic Works Defector

Mckeesport, PA

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Dec 7, 2011
 

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Smells like alot of tires buried under that salt bin
For the Record

Mckeesport, PA

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#4
Dec 7, 2011
 

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Cherepko is a putz. FACT!!!!
Arm Pitt Man

Pittsburgh, PA

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Dec 7, 2011
 

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The arm Pitt man of the city cannot skim off of the money. The professionals will keep track of all the figures. Something shady in how the little permed man finally figured council is on to him.

The trash of the city piles high as taxes deflate.
Arm Pitt Man

Pittsburgh, PA

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Dec 7, 2011
 

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Everyone is on to the shady little man.
For the Record

Mckeesport, PA

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Dec 7, 2011
 

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Cherepko blunders and now the Pittman bashing begins. Brewster-Lite needs someone to throw under the bus to deflect the blame from himself. Dennis, these punks don't deserve you bailing their azzes out any more. You carried Brewster for seven years. Let boy blunder sink the ship and maybe we can get a real leader in four years.
Arm Pitt Man

Pittsburgh, PA

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Dec 7, 2011
 

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You have a true leader now, Cherepko. Bye Arm Pitt man of McKeesport.
OMG U Cant Be Serious

Mckeesport, PA

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#9
Dec 8, 2011
 

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Arm Pitt Man wrote:
You have a true leader now, Cherepko. Bye Arm Pitt man of McKeesport.
Cherepko couldn't lead a drunk to a bar.
Arm Pitt Man

Pittsburgh, PA

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Dec 8, 2011
 

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Bye bye small, little, angry permed man.
Portent of things to come wrote:
As McKeesport council prepares to adopt the city's 2012 spending plan, officials still disagree on how to proceed with a $14 million sum intended to support future budgets.
While a resolution is on tonight's agenda to withdraw from escrow funds that city administrator Dennis Pittman says should not have been placed in the escrow account, questions remain on how council will proceed with the remainder of the money.
Pittman referenced the remaining $14 million from the city's transaction with the Municipal Authority of the City of McKeesport in which MACM pre-paid a $24 million mortgage on the purchase of its sewer lines from the city.
That $14 million is intended to serve as a consistent revenue source for budget years 2012, 2013 and 2014 as it lays groundwork for financial plans in 2015.
Pittman asked that council reconsider its previous decision to leave the funds in a non-interest bearing account until an investment is made. He asked that a new ordinance be written to allow the $14 million to gain interest as the investment process continues.
"I'm thinking we do the ordinance, and move it to an interest-bearing account until the investments are made," Councilman Dale McCall said.
Council president Michael Cherepko said those funds would already be invested if Pittman would have signed documents necessary for the PFM Group to perform a third-party analysis on potential investments.
"If this paper was signed for PFM in August, it would be making money now," Cherepko said. "Fact."
Pittman insists that the $12,500 fee for the analysis is not justified and that even non-professionals would provide the same assessment.
Cherepko's "fact" insert likely was a response to a memorandum titled, "Failing to plan is planning to fail, and failure should not be an option!," which Pittman distributed to council earlier in the day.
After the meeting, Pittman tossed the memorandum and said, "You can attach this to my retirement letter."
The memo lists four sets of "facts" and the "actions" required to resolve them. All of the items related to the $14 million and council's understanding of those funds as members pass the 2012 budget and future spending plans.
In other business, council will consider:
• Authorizing the city to provide start-up loan funding to allow Blue Roof Technologies to take part in a grant-funded project to construct six handicapped-accessible smart homes on two sites for McKeesport Housing Authority
• Subdividing the Yester Square section of Crawford Village into four parcels that would allow for reconstruction of taxable housing units in the city's Eighth Ward
• Approving Home Consortia Grant Funds used in a cooperative agreement that serves entities working toward community development in McKeesport, Penn Hills and Allegheny County.
http://www.pittsburghlive.com/x/pittsburghtri...
Arm Pitt Man

Pittsburgh, PA

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Dec 8, 2011
 

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OMG U Cant Be Serious wrote:
<quoted text>
Cherepko couldn't lead a drunk to a bar.
Yes I am Daniel Rich.
Arm Pitt Man

Pittsburgh, PA

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Dec 8, 2011
 

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Yes I am serious, Daniel Rich.
Arm Pitt Man

Pittsburgh, PA

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Dec 8, 2011
 

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OMG U Cant Be Serious wrote:
<quoted text>
Cherepko couldn't lead a drunk to a bar.
Daniel Rich, everyone knows Pittman leaving is best. Cherepko is the best possible leader for McKeesport.
He Served

Mckeesport, PA

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Dec 9, 2011
 

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Dennis Pittman was armed. When he served his country in Viet Nam. What have you done for your country? You do nothing but bitch about how bad things are in McKeesport and yet you support Cherepko who has been nothing more than a loud mouthed rubber stamp head bobber for Brewster. Guys like Dennis fought for your FREEDOM of speech. Cherepko will only fight for your vote and all of the trappings that come with the office he is ill equipped to hold.
chico

Pittsburgh, PA

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#17
Dec 9, 2011
 

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The new City leaders are a joke but u deserve it LOL!!!!
Arm Pitt Man

Pittsburgh, PA

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Dec 9, 2011
 

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Freedom of speech is not part of anything Dennis Pittman believes in. The motto CCD could best be used for houses mentioned in the article. Since Pittman crushed, crumbled and destroyed all he could, including himself. Keep it motto, the city certainly resembles it.
Arm Pitt Man

Pittsburgh, PA

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Dec 9, 2011
 

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CCD these houses while the motto fails to do as you claim. http://www.post-gazette.com/pg/11335/1193662-...
Arm Pitt Man

Pittsburgh, PA

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Dec 9, 2011
 

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Daniel Rich responded, he loves the crush, crumble destroy CCD. Sounds like something a idiot McKeesport officer would say, and it is.
Cry Freedom

Mckeesport, PA

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Dec 10, 2011
 

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Freedom is off his meds again....
Arm Pitt Man

Pittsburgh, PA

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Dec 10, 2011
 

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Make for a nice landscaping item?

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