Editorial: Audits last straw for hopelessly corrupt area retirement board Page 1 of 1 Editorial: Audit is last straw for hopelessly corrupt area retirement board March 23, 2010 05:55 am Depending on which way he's leaning, Superior Court Judge Thomas Murtaugh’s job just got easier — or was ‘made more difficult — by the release ofa state audit ofthe Essex Regional Retirement Board's shamefl fiseal practices. “Murtaugh isthe jurist charged with determining whether the Public Employee Retirement Administration ‘Commission (PERAC) was within its right to replace Timothy Basset as chairman ofthe board that administers the pension system for 19 towns, 17 housing authorities and several other governmental entities — including Manchester, Essex, Rockport and the Manchester Essex Regional School District. ‘The move, of couse, is vigorously opposed by the pension board, which shamefully insists Basset i entitled to keep his dual postion as chairman and executive director. Then again, consider the source. The PERAC. reports 45 pages of "findings and recommendations" and supporting documents released late last week reveal an agency run amok. ‘The audit details repeated violations of the Open Meeting and Campaign Finance laws, inadequate controls on travel and business expenses, and inappropriate use of retirement funds. Then, there's that FIA Platinum Plus ‘creditcard issued in Basset’ name. According othe report "In November 2008, the card was used for hotel and meal costs during a personal weekend side tip ata guest house in Williamstown. The $741.58 in charges was reimbursed back to the ERRB by a member of ERB, ‘Subsequent ingury resulted in an explanation ofa personal side trip with a spouse in which the auditors were informed that the couple's personal credit cards were compromised, Asa rest the oly means of payment, available was ERRB's credit card.” In other words, the pension board's card was literally used, inthis instance, as the employee's personal ATM, All ofthis provides fel fora bill fled by state Sen, Bruce Tarr, R-Gloucester, who wants the retirement ‘board placed into receivership, and its entire membership dismissed. And his proposal should get broad ‘support from any lawmakers truly interested inthis most basi and long overdue reform, ‘According to the audit, "On one occasion, an additional tip was given ata dinner even though the bill hada 20 Percent gratuity included. As result the final tip ended up being 57 percent,” ‘Thats what happens when a corrupt public agency is spending other people’ money — ours. And tha cries out for sweeping change. Copyright © 1999-2010 emi, inc. [nnpsivww gloucestertimes.com/puopinionlocal_story 081222303.himb/tesources prints... 3/22010