Written by George Maragos Friday, 04 January 2013 00:00
The adopted $2.8 billion Nassau County budget for fiscal year 2013 represents a 0.2 percent decrease in spending compared to the 2012 budget. For the third consecutive year, the budget holds the line on property taxes with no increase.
The budget is fiscally conservative containing only $60.1 million of revenue and expenditure items considered as having risk. This is the lowest amount of budgetary risk in over four years. The $60.1 million at risk is comprised of $39.1 million in possible lower revenues and $21 million in possible higher expense. This level of risk is about 2 percent of the total budget and should be manageable.
Using Generally Accepted Accounting Principles (GAAP) as defined by the Nassau County Interim Finance Authority (NIFA), the projected risk is $125.1 million. However, the NIFA GAAP risk still represents an 11 percent improvement over 2012 and a 32 percent improvement from 2009. The distinction between the risk as presented under the budgetary basis and the NIFA GAAP basis is attributable to the different treatment of certain revenues and expenses. NIFA GAAP excludes certain income from investments, bond premiums and bond proceeds used to pay expenditures.
The adopted 2013 budget continues the improving fiscal trends established over the last three years by:
• Reducing the Structural Gap to less than $35 million, an 86 percent improvement from the peak in 2009 of $252 million;
• Controlling spending to just 1.3 percent over recurring revenues, the lowest margin since 2004;
• Reducing borrowing to $140 million, approximately 44 percent lower than the average annual borrowing over the prior 5 years, primarily for capital project investments.
The principal budgetary challenges facing the county are its low fund balance, which stood at $40.5 million at the end of 2011, the continuing skyrocketing pension contributions, and the unrelenting increases in state and federal mandated costs. At the same time, the county revenues are essentially flat due to the weak economy. The rating agencies have noted these challenges, evidenced by a Moody’s downgrade in October. The administration, NIFA and the legislature need to work together to address these growing challenges in 2013 and beyond.
Saturday, 30 August 2014 00:00
In response to the county’s fly-by-night decision to remove 176 old oak trees along Seaman’s Neck Road, earlier this month, New York State Sen. Kemp Hannon has issued a letter to Nassau County Department of Public Works Commissioner Shila Shah-Gavnoudias regarding constituents’ concerns with the appearance of the roadway.
In his letter, Hannon asks Commissioner Shah-Gavnoudias if the removal of the trees were under the jurisdiction of LIPA or PSEG.
“If not, I would like to know who made the decision to remove these trees and why,” Hannon states. “I request you review this case and take whatever course of action necessary.”
Wednesday, 27 August 2014 00:00
U.S. Navy Veteran Richard Meyerowitz of Levittown joined the military in 1962, enlisting straight out of high school. While he would never see combat, Meyerowitz served as a boilerman aboard the U.S.S. Dewey amid the United States’ blockade of Cuba.
“They gave us our orders,” Meyerowitz said, “turn any vessels away. If not, blow ‘em out of the water.”
During the blockade, Meyerowitz said he only encountered one ship, which they warned to turn back. Just a kid at the time, Meyerowitz said it didn’t occur to him at the time, how the country could have been on the verge of nuclear war.
Thursday, 28 August 2014 00:00
Christopher Joseph of Levittown was recently selected to play on the United States world university hockey team in Italy this year. A 2009 MacArthur High School graduate, Joseph was captain of his high school team for two seasons, leading them to two championships. Joseph would later go on to play junior hockey for New York Apple Core and the New Jersey Rockets junior ‘A’ team.
Joseph’s parents, Hal and Theresa, along with his brother Robert and sister Kristin said they are very proud of Christopher’s accomplishments and are cheering him on as he heads off to Italy.
Thursday, 28 August 2014 00:00
Farmingdale State College had four players named to the 2014 D3baseball.com All-New York Team. Senior outfielder Edward Bergmann of East Meadow, earned First Team honors, while junior shortstop Anthony Alvino of Lindenhurst was named to the Second Team. Junior outfielder Michael Marino of Franklin Square and sophomore pitcher Alex Weingarten of East Rockaway also earned Third Team honors this year.
Bergmann batted a team-leading .421 this season and also led the Rams in hits (53), runs scored (42), doubles (8), on-base percentage (.503), stolen bases (30) and held a perfect fielding percentage. Nationally, Bergmann ranks 4th for stolen bases per game (0.88), 10th in stolen bases, 23rd in both on-base percentage and batting average and 29th in runs scored per game (1.21).