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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

As the high school seniors depart on their own adventures, so too, do students finishing fifth and eighth grades, look to the road ahead. 

 

Last June, students in the Levittown Public School District’s six elementary and two middle schools celebrated a new chapter in their academic careers with a host of celebratory speeches and awards from exemplary students in the district. In celebration of Moving Up Day, the Levittown Tribune takes a look at some of the academic accomplishments from students “moving up” out of elementary and middle school. 

 

For more on Levittown’s Moving Up Day ceremonies, see page 28A.

Sebastian, a two year-old pit mix with chocolate and caramel fur, wags his tail and splashes inside of a kiddie pool outside of the Forgotten Friends of Long Island rescue center in Levittown. The energetic pup is looking for a home, just like the four other dogs housed at this location in the basement of the Animal Hospital at 4 East Village Green. 

 

“He’s good with other dogs and actually likes cats,” said Beth Marzo of Plainview, a dog coordinator at Forgotten Friends of Long Island. Sebastian was rescued from the Town of Hempstead Animal Shelter where he lived for one year. 


Sports

Runners and walkers from Levittown and all over Long Island and beyond are invited to join in the fun on one of the most unusual 5 Kilometer courses on Long Island at the Saturday, August 9th Lynn, Gartner, Dunne & Covello Sands Point Sprint.

 

The Run presents the Long Island running community with an opportunity to traverse a unique combination of paved paths and runner-friendly woodland trails at the Sands Point Preserve. 

 

The leading Nassau County law firm of Lynn, Gartner, Dunne & Covello has signed on to be the new lead sponsor of the event, with partner John Dunne and his wife planning on running the 5K distance. The Lynbrook Runner’s Stop will be back as the presenting sponsor. 

Four MacArthur High School senior varsity lacrosse players have recently signed National Letters of Intent to continue playing their sport on the collegiate level. Parents and faculty accompanied Mary Kate Butler, Alex Goodelman, Kelly McQuail and Samantha Santeramo as they signed an agreement to play lacrosse at Farmingdale State College, Hartwick College, Dowling College and Bryant University, respectively.

 

— Submitted by the Levittown Public School District


Calendar

Fire and Ice - July 18

Child Car Seat Safety Program - July 19

Face Painting Jam - July 22


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