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Nassau County Comptroller’s Report

Budget Holds The Line On Spending And Taxes

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.


News

Nassau County Police with the second precinct recently arrested a 25-year-old Levittown woman on allegations of assault. 

 

On Aug. 16, police responded to reports of two people fighting along Ponder Lane. According to police, an investigation determined that the defendant Theresa A. Signoriello assaulted a 24-year-old female. The victim has a valid order of protection against Signoriello, which she violated.

After graduating from MacArthur High School in the fall of 1994, United States Marine Corps Veteran Sgt. Peter D’Angelo attended one semester at C.W. Post before he decided to drop out and join the military. 

 

“I couldn’t afford it,” D’Angelo said, “so I enlisted.”

 

Once finished with his basic training at Paris Island, S.C., D’Angelo was assigned to an administrative position in Arlington, Va. There, Deangelo would be put in charge of payroll... until one day when opportunity knocked. 


Sports

Cantiague Park Senior Men’s Golf League had its fourth tournament on Thursday Aug. 7. We had 33 golfers and a record 8  who scored under 40.  Low overall score was won by newcomer Ed Hyne with an impressive 33, his second low net in a row. Charlie Acerra scored a solid 35, and won low overall net with a 26; his best score in 4 years.

 

Competition on the nine-hole course is divided into two divisions. Flight A is for players with a handicap of 13 or lower. Flight B is for players with a handicap of 14 or more.  The league is a 100 % handicap league. Any man 55 years or older is eligible for membership. We have many openings for this year, and you can sign up anytime throughout the the season. The league meets every Thursday at 7:30 a.m., but the formal tournament dates are only the first and third Thursday of the month through late October. We will have a final luncheon with prizes on our last meeting.

Golfer Annie Park, 19, of Levittown came close at the U.S. Women’s Amateur tourney, but missed the cut, finishing at 149, 9 strokes over par and just one stroke away from the match-play cut-off. 

 

“I couldn’t make any putts, so then I had more pressure into my shots to get it closer,” Park said, “but obviously that’s not going to work.”


Calendar

Island Trees Board of Education - August 20

Theatre: The Normal Heart - August 22

KC and the Sunshine Band - August 23


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