Something Doesn't Add Up- BUT $700K JUST DID
- Brigitte McGuire
- May 21, 2025
- 2 min read
Mayor Gubitosi announced, at last night's council meeting (5/20/25), that the administration has identified 26 accounts at PNC bank, (not used day to day like our Provident bank accounts) 25 of those PNC accounts had no money in them and 1 account had approx $700,000.
Mayor Gubitosi mentioned the following:
This was just found last week
All accounts have been closed
The approx 700k was transferred from that PNC current fund to the current fund used at Provident Bank, to close out the accounts
They are continuing to investigate where it came from, however, so far it's looking like deposits came in during the beach season from the community pass app linked to daily badge purchases.
This past March 2025, there was a $3000.00 monthly fee for having zero in all the other accounts. The account was being charged monthly, drawing from the $700k.
Statements for four years have been requested to do a deeper dive into this situation
Mayor Gubitosi and administration are making strides to cleaning up outstanding issues
Of course, I have so many questions, but I will continue to be patient. I want to give Mayor Gubitosi some grace and time to get us passed the new budget season. With the former CFO, John Barrett leaving right at budget season, and knowing the disaster administration he is following, I simply feel patience is much needed. After all, if it wasn't for how much Mayor Gubitosi questioned and uncovered during his years as a councilman, we wouldn't be here as an educated community.
But for just for the heck of it, here are some of my questions:
Who else had signature authority on these accounts besides the clerk?
How far back were these accounts opened and active?
Wouldn't this money have had to be deposited into the beach fund if from daily badge purchases?
Were all 26 accounts opened at the same time?
Do they have the same signatures granted for all accounts? If not, who else had signature authority on each of them?
If this ends up being, in fact, the daily beach pass revenue, who set up the link into this PNC account? And why into the current fund and not beach fund? And why to PNC and not Provident?
When the transition from Fox to Gubitosi happened, how did access to 26 accounts, with $700k, at PNC NOT get included?
What sparked the new administration to be able to find these 26 accounts?
Isn't it a strange coincidence that $700k was the approximate number not put back into the surplus account from a previous year?
Here is a link to the council meeting along with a clip of a resident making a comment about it.
Council Meeting: https://youtu.be/xKW9gr39CI4?si=DV0UVANji5U7EnOo
Resident Herb Kenny commenting on this topic:
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