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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 Garden City Chamber of Commerce is gearing up for the 35th annual Fall Festival Street Fair set for Saturday, Oct. 25 from 10 a.m. to 3 p.m. on Seventh Street. The chamber thanks the Garden City Hotel which will serve as the primary event sponsor.

JGS entertainment will return for the 16th year as master ceremonies providing music and vocals. There will be plenty of activities for the kids. Included will be the return of the two trackless trains carrying children 12 years of age and younger up and down Seventh Street sponsored by Coach Realtors and Garden City Teachers Association. There will be the traditional inflatable bouncy house sponsored by SMPL Technologies and the ever-popular money cube sponsored by Calogero’s and Leo’s. The Garden City Parks and Recreation Department will have giveaways and temporary tattoos.

Ever since the Garden City School District passed a $36.8 million School Investment Bond back in 2009, the upgrades throughout the district have been quite substantial. And while most of it has gone towards infrastructure, external visible improvements have rightfully been a source of pride for the board, which has taken to conducting tours at the different schools preceding the monthly public meetings that are normally held at Garden City High School. On the night of the school board meeting held on Tuesday, Oct. 14  at the Homestead Building, the school board, administration and Superintendent Dr. Robert Feirsen went on a guided tour of the building by Homestead Principal Dr. Suzanne Viscovich.

Feirsen described the tour as a new tradition started last year where administration travels around each of the district’s school buildings in the Fall to observe its current offerings and recent upgrades.


Sports

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.

Stretching tips for the high school athlete

Prior to the start of high school running season, Garden City’s Physical Therapy Options (PTO) had an opportunity to provide a presentation to members of Sacred Heart Academy’s cross country team. Team members gathered at Garden City’s New York Running Company to learn strategies and tips for a successful fall season.

PTO staff members Dr. Meghan Goetz, Doctor of Physical Therapy, and PTO Aide Mike Murphy discussed the importance of stretching to prevent injury and provided strategies and tips for success for the high school runner.


Calendar

Garden City High School Homecoming

Saturday, October 25

Marvelous Movie Matinée

Monday, October 27

A Map Of Artistic Inspiration

Saturday, November 1



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