SBA to hire independent firm to review finances

The NYPD’s Sergeants Benevolent Association is hiring an independent accounting firm to review its finances in the wake of the federal probe into its embattled leader for allegedly misspending union funds, The Post has learned.

Vincent Vallelong, the union’s new president following former head Ed Mullins’ resignation said in a memo dispatched to members Friday night that the SBA is in the process of tapping an outside accounting firm “to conduct a complete and thorough forensic accounting of our books and records” without elaborating further. 

The union’s “annuity” and “health and welfare” funds weren’t compromised “and remain fully funded, and all member benefits remain unaffected and “in place” said Vallelong, adding that the union’s financial obligations are being met.

And he said negotiations with the city on a new contract are continuing and that the union has “no reason to believe” its ongoing arbitration for a 2.25 percent differential being paid to other police officers, including lieutenants and captains, “will not go forward.”

Mullins resigned Tuesday night after FBI agents raided SBA offices in Manhattan and his home in Port Washington, Long Island, earlier in the day.

The FBI has refused to elaborate on the nature of the probe, but a high-ranking law enforcement official has said the investigation involved suspicions of mail and wire fraud, or misappropriations of SBA funds.

A police officer since 1982, Mullins rose to sergeant in 1993 and was elected president of the sergeants union in 2002. The SBA represents about 13,000 active and retired NYPD sergeants and controls a $264 million retirement fund.

During his tenure as the SBA head, the bombastic union chief has fought for better pay for members — while also publicly sparring with city officials, including Mayor Bill de Blasio, over police reform and other issues.

He landed in hot water last year for tweeting the unredacted arrest report of the mayor’s daughter, Chiara de Blasio after she was busted during George Floyd protests in Manhattan.

Mullins was slapped with NYPD disciplinary charges for releasing the paperwork and for other tweets in which he called a city official and a city council member a “bitch” and a “first class whore,” respectively.

The case went to trial in September but was put on hold when one of Mullins’ lawyers experienced an unspecified medical emergency. It’s set to resume on Oct. 27.