Friday, 11 March 2011 00:00
Anyone interested in the true state of Glen Cove’s finances would be wise to read the city’s Deficit Reduction Plan (“the Plan”) and the state comptroller’s response thereto, versus Mayor Suozzi’s interpretation, or even Newsday’s coverage, thereof.
The unfortunate fact is that, as revealed by the plan and the review to which it responds, if you include the almost $13 million the city has borrowed to reduce the deficit, it has continued to grow.
That means that we have outspent revenues by millions of dollars, despite the fact that the city now collects more than $10 million in property taxes than when the mayor took office, an increase of about 57 percent.
It also means that, other than for the loan, not one measure detailed in the “plan” has served to reduce the deficit even one cent.
This is not a matter of interpretation, but one of fact. The numbers don’t lie.
Paul L. Meli