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Source: Asbury Park Press, N.存倉J.Aug. 27--RED BANK -- Taxpayers could be on the hook for $326,000 in payouts for unused sick and vacation time for five retiring borough employees, the second time in less than three years that the borough has had to borrow money to finance such cash-outs.Borough council members are scheduled to hold a public hearing and vote on a "severance" ordinance, which would authorize the payout and a resolution to go to the bond market at Wednesday's 6:30 p.m. meeting in borough hall. The payout plan was met with opposition from two Council candidates who say the borough should work with unions to stop the practice."That is for people who are retiring and we owe for payouts," Borough Chief Financial Officer Colleen Lapp said. "It's for accrued time, which could be sick or vacation time, depending on the individual."The payouts would be made to the retiring workers this year and the borough taxpayers would repay the borrowed $362,000, plus interest over five years, she said.This is the second time the borough has borrowed money to fund cashouts of unused sick and vacation time. The borough financed $750,000 over five years in November 2010 to fund payouts to 11 retiring borough employees.Those retirees began working for the borough prior to 1994 when regulations were changed to cap such pay-outs for unused sick time and other benefits for workers hired after that year, Mayor Pasquale "Pat" Menna said in an earlier interview.The five current retirees are "long-time" employees, Lapp said. Names, titles and years of service were not available from officials on Monday.The pay-out br迷你倉ught sharp criticism from Republican Council candidates Cindy Burnham and Sean DiSoma.Burnham said the borough should negotiate with unions to eliminate the payouts. She said the borough should also work with eligible employees, before they file retirement papers, to either reduce the amount of the payout or work out another arrangement to reduce the cost to taxpayers."See if they can take one day off a week. We want to decrease the payout or negotiate less money for those employees (to be paid on retirement)," Burnham said. "The borough policy should reflect what the majority of Red Bank taxpayers have at their own jobs in the private sector -- use it or lose it."DiSoma took a hard line."I do not really care about past agreements. That will be my first priority," he said. "No municipal employee who earns their living from taxpayers is entitled to hundreds of thousands of dollars in sick payouts. This practice needs to end immediately."DiSoma said he would seek a way to "close this loophole" through negotiations or changing the rules. He criticized the council for not addressing the issue since 1994.Democratic opponent and incumbent councilwomen Sharon Lee said the borough doesn't have many options because it is obligated to make the payments. She is running with Councilwoman Kathleen Horgan in November."It is our commitment...these are people who've been with us for 30 years," Lee said. "Our hiring practices are different for new hires."Copyright: ___ (c)2013 Asbury Park Press (Neptune, N.J.) Visit the Asbury Park Press (Neptune, N.J.) at .app.com Distributed by MCT Information Services自存倉