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The Real State of Nassau's Finances

George Maragos continues to mislead the public by falsely claiming that the county’s financial condition has improved on his watch. During Mr. Maragos’s tenure as Nassau County’s fiscal watchdog, the county has undergone three bond downgrades by the credit rating agencies, the county’s fiscal outlook has been lowered from “stable” to “negative,” and the county’s debt has reached a new all-time high. No amount of “cooking the books” and issuing misleading financial statements and press releases can hide this truth, a truth which can be easily verified by outside sources.

As a Certified Public Accountant and former Nassau County Comptroller, I can see through the blatant attempts by Maragos to cook the books to produce the result he wants instead of the result that is truthful. The problem is that voters are disillusioned by the back-and-fourth of political campaigns where one side makes one claim and the other side counters with the opposite take. If voters don’t know who to believe, they should look at what independent, outside sources have to say about the county’s finances.

If the county’s finances are so rosy, then why did the Nassau Interim Finance Authority (NIFA) have to impose tough oversight on the county’s finances? Ronald Stack, the chairman of NIFA remarked at a July 2013 meeting, “To the county officials who believe there is a surplus, would they please call me so I can hold an emergency meeting of the board so we can lift controls?” To date no one has called.

On Sept. 4, 2013 The Wall Street Journal published an investigative piece that highlighted how a controversial judge’s order sought by the Republican county attorney allowed the county to hide outstanding liabilities to turn its 2012 $45 million budgetary deficit into a surplus on paper. When pressed, the county attorney acknowledged that he “knew it would affect the budget.”

The editorial board of Newsday published a piece on June 12, 2013 with the headline, “Don’t buy Nassau’s financial window dressing.” In the editorial, Maragos was skewered when the editorial board stated, “…while the surplus is a fiction, the county’s financial woes are all too real. In the real world, and according to generally accepted accounting principles, the county had an $85-million deficit last year.”

Even if you don’t trust the collective wisdom of the chairman of NIFA, The Wall Street Journal, and Newsday, take a moment to consider what George Marlin, the 2009 chairman of Conservatives for Ed Mangano and a NIFA Board member had to say. Marlin said, “The County Comptroller’s declaration that Nassau ended fiscal year 2012 with a “miraculous” surplus (as claimed by Maragos) was absurd. It was a mirage, not a miracle.” Marlin continued, “Let’s face it, the County has forfeited its credibility when it comes to fiscal matters”

Maragos claims that the growing liability for property tax refunds has been addressed is totally unsupported. Just this week, on Sept. 8, 2013, Newsday reported that claims for refunds have reached an all-time high. The county policy of freezing home values in a declining housing market has made the problem worse. And granting 90 percent of the challenges have transferred the County’s liability to the backs of taxpayers.

Politics can be a tough business where people levy accusations back and forth to gain electoral advantage. The sad truth is that our county is in deep financial distress and instead of seeking solutions, people like George Maragos distort the truth and refuse to even acknowledge that a problem exists. It is necessary to restore confidence in the county’s financial reports before we begin the task of repairing the county’s finances.

News

The Village of Garden City and the Garden City Public Library have been working together to repair the problems with the library’s elevator and will hopefully have it up and running in approximately three to four weeks.

It has been a difficult time for seniors, the physically challenged and a tremendous inconvenience for the public in general without an elevator running in the library. However the village and library both agreed that in its present condition the elevator was not safe for people to use.

Residents needed to run

The Garden City East Nominating Committee is seeking residents of the East who are interested in being interviewed for the positions of village mayor, village trustee and school board trustee. These positions are subject to election by all village residents. The village mayoral and trustee terms are for two years beginning on April 6, 2015 and the school board trustee term is for three years beginning on July 1, 2015.

Any resident of the East who is interested in being considered for one of these positions must submit a letter of intent and a resume. This submission should note the position being sought; include their name, contact information, a statement explaining their reason for interest in the position, a summary of their professional background and other qualifications, including, although not required, current or prior involvement in village or school board positions or initiatives.


Sports

High School Jazz Class Added To Dance Conservatory

Dance Conservatory Director Felicia Lovaglio has decided to add a jazz class for students in 9th through 12th grades who are residents of the Incorporated Village of Garden City. This 55-minute class will be held on Saturdays at 4 p.m. beginning on Saturday, Nov. 8. The cost of this 20-week class will be $200. Preregistration is necessary by visiting the recreation and parks office at 108 Rockaway Ave.

Adult Dance Performance Group Now Registering

The recreation and parks department offers an adult dance group that works on jazz and contemporary moves and leads up to a performance in a Dance Company Showcase. Whether you are a beginner dance student or someone who danced as a child and would like to try again, this program will help you achieve your goals. Classes will be held on Saturday mornings beginning Saturday, Nov. 8. Each class is 55 minutes long and the session will run through May. The cost of this program will be $220.  

Reminder

With the fall sports season upon us, the department of recreation and parks would like to remind all residents that pets are not allowed in any neighborhood parks, Community Park, or St. Paul’s fields. Non compliance with this rule will result in the issuance of appearance tickets.

Register For The Online Registration Option

Garden City’s Department of Recreation and Parks will offer the option of online registration with credit card payment beginning with its winter programs in early December.

In order for a family to use the online registration option, the family will first need to visit the recreation and parks office at 108 Rockaway Ave. to verify residency and their family information and receive their password.  A list of instructions as to how to use the website will be included.


Calendar

 Murder, Madness & Poe

Thursday, October 30

Marvelous Movie Matinée

Monday, November 3

Manhasset Comes To Garden City

Through November 25



Columns

1959: The Year The Music Stopped Playing
Written by Michael A. Miller, mmillercolumn@gmail.com

The Eccentric Heiress Of ‘Empty Mansions’
Written by Mike Barry, MFBarry@optonline.net

Yellow Margarine And A Pitch For The Ages
Written by Michael A. Miller, mmillercolumn@gmail.com