After reviewing certain financial records provided by the Business Improvement District Management Association (BIDMA) for 2023, 2024 and the proposed budget for 2025 and at the advice of theFinancial Administrator and Town Attorney’s office, the Riverhead Town Board will introduce a resolution authorizing a retainer agreement with PKF O’Connor Davies to conduct a forensic audit of the BIDMA.
The resolution will be considered at the Town Board meeting, which will take place on April 15 starting at 6 p.m.
According to the town, the BIDMA is a not-for-profit entity funded almost entirely with taxpayer monies. Accordingly, the Town Board has a fiduciary responsibility to ensure all dollars are being spent appropriately.
Supervisor Tim Hubbard and the Town Board wish to assure the public that all Downtown events for 2025 – including, but not limited to, Alive on 25 on July 18 with fireworks and August 1 and the Halloween Fest on October 25 will take place. These events, however, will no longer be produced by the BIDMA or its executive director, Kristy Verity, and will instead be organized by a soon-to-be retained outside consulting agency, Main Street Agency/MSA Productions.
Riverhead Town Hall is located at 4 West Second Street.