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Roselli: We'll Aggressively Pursue Recouping Misappropriated Funds

Toms River Regional super outlines reforms to insurance, audits in wake of Ritacco plea

Statement as released by Toms River Regional Schools communications office, responding to guilty plea of former Superintendent Michael Jr. Ritacco:

Superintendent of Toms River Regional Schools Frank Roselli states, “Please be assured that our primary mission and focus remains the safety and education of our 17000+ students.  Our schools continue to operate as usual, with a focus on education and student centered activities.”

Roselli continues, “We have not seen the details of the plea agreement of the former Superintendent at this time, however in October 2010 we provided notice to the insurance carriers of a potential claim.  We subsequently filed that claim and since the case is now resolved, we will even more aggressively pursue all avenues of recovery and restitution for any misappropriated public funds.”

Additionally Roselli states, “It is important to note that with regards to district insurances, the district has already made considerable changes in personnel, vendors and process in the course of the past 16 months.  Long before the resolution of this case, the district worked hard to address areas where internal controls needed to be strengthened.  The Toms River Regional Board of Education solicited competitive broker proposals in awarding to AJ Gallagher for property/casualty insurance and subsequently BGIA for health insurance in 2011. The Board added a new section to board policy that requires us to solicit proposals at least every 3 years for insurance brokers.  Our insurance contracts, which have all been closely reviewed by the Board attorney's office, now clearly spell out responsibilities and fees (notably for the workers compensation program).  The entire insurance program is tightly managed by the new brokers and the new district business administrator.  All payments and services must conform to contract. Finally, we have also hired a new auditor through a competitive bid process and said auditor provides an additional layer of oversight to all financial considerations.”

Roselli concludes, “We are hopeful that while we are aggressively pursuing all avenues of recovery and restitution for any misappropriated public funds, that we can now also move forward as a community with a renewed focus on the betterment of the district, both operationally and educationally.”

teatleytea April 07, 2012 at 12:30 PM
This goes out to us "fools" the taxpayers of the Toms River Regional School District. Michael J. Ritacco may still be able to keep his pension. Once he is sentenced he will go before a pension review board and they will decide how much he will or will not get from his pension. According to what I have heard these people must take a look at all of the good that he has done for the district. Never mind the fact that this CROOK stole anywhere between 1-2.5 million dollars (and that is only what the government was able to trace God only knows what the actual amount really is) from the district and that he ADMITTED to the corruption. I personally feel that the only money he should get is what he personally placed into that account (and even that is questionable.)
TP April 07, 2012 at 01:25 PM
What is his annual pension? Starodub's is 122,000 annually. Recently retired from Lacey. Thanks to the Union/Board of Ed/Superintendent incestuous relationship of acting on behalf of themselves rather than students and taxpayers. The US is pumping out less, and less intelligent students. We're falling far, far behind other countries. Rather than focusing on the basics our schools are getting too involved in social engineering issues. Leave social values for families to deal with. There's no place in the government run schools for it. Focus on math, science, reading & personal responsibility.
Can't shut me up April 08, 2012 at 02:06 AM
Hey Roselli.....Maybe you should rethink the tax increase until you get back the money Ritacco stole. Why should we Toms River residents pay for his theft?????? I'll be at the next BOE meeting I want answers.
Can't shut me up April 08, 2012 at 02:09 AM
@TP You're posting in the WRONG forum. This has zippo to do with Lacey, Shariah or Illegals.
grace September 22, 2012 at 11:30 PM
thats so true robert he and cardone and ritacco were all buddy buddy and even if he did nothing he was def aware of it...mr cardone and family and friends of family all now with cushion jobs at tr schools....mr roselli nice guy but new super should be from out of district

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