The Jersey City Council rejected a $300,000 contract for NW Financial, citing their roles in prior budgets that has led to an over quarter billion deficit, at last night’s meeting.
“On 10.15, I vote no. I recognize that NW Financial Group had been advisors to the city before, I also understand that the administration is seeking … other proposals, they could certainly reapply or we can fold their services into a new proposal,” explained Ward C Councilman Tom Zuppa.
Eight days ago, Mayor James Solomon announced the massive budget hole at a press conference where he was flanked by nearly the entire Hudson County legislative delegation, the next day stating his salary for 2026 would be $1, both as HCV first reported.
” … The Northwest Financial Group has been around for 20-plus years for the city and we are in the hole that we’re in and we have not yet seen what was the scope of the work they were doing, such that they would’ve had no idea about all of the financial mismanagement,” noted Ward D Councilman Jake Ephros before voting no…