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Nassau County Comptroller’s Report

County Financial Report Card

The Financial condition of the County continues to improve by all fundamental measures, primarily due to the improving economy and cost controls instituted by the Mangano administration. From residents’ point of view, the County’s improved financial state is reflected in the county portion of their property tax bill, which has not increased in the last four years.

The mid-year financial projections for 2013 indicate that the County will end the year with a $5.6 million budgetary surplus. This follows on the heels of 2012’s surplus of $41.5 million, now confirmed by independent auditors.  These budget surpluses are due to increased sales tax revenues from the improving economy (up 10.4 percent year to date) and reduced Social Service costs due to lower unemployment (down to 6 percent, one of the lowest rates in New York State and lower than that of Suffolk County and New York City.)

 

All other financial fundamentals also continue to improve, including the structural gap, property tax refunds due to assessment corrections and the County’s long term debt.  I’ll address these three points in turn.

 

The County’s structural gap (the difference between current expenses and recurring revenues) continues its year-over-year improvement since 2009. The structural gap is projected at a seven year low of $54.4 million, down from $116.9 million in 2012 – a 53.5 percent improvement over one year ago - and down from $251.6 million in 2009 - a 78.4 percent improvement over four years.  

 

The County’s growing liability for property tax refunds appears to have been addressed and is expected to decline.   The County’s average payouts have been reduced to about $60.3 million annually for the last four years, down from an annual average of $93 million under the previous administration.  This decrease does not come at the expense of homeowners: it is due to a more aggressive policy on the part of the Mangano Administration of challenging commercial grievances.

 

It is worth noting, given the public debate about the county debt, that the long term debt increased only modestly due to 47 percent lower new borrowing over the last four years compared with the period of 2006-2009. The total projected year end 2013 debt of $3.595 billion is quite manageable and only about 30 percent higher than the annual budgetary revenues of the County. Most families manage mortgages that are 300 percent to 400 percent of their family’s annual income.

 

Although the County’s financial fundamentals have improved by all measures, the County continues to face fiscal challenges. The wage freeze currently challenged in the courts is the greatest potential liability, estimated at $230 million by year’s end.  To protect the County’s improving financial state, the County needs to address this risk in the 2014 Multi-Year Plan or resolve it through collective bargaining. 


News

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.”

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.


Sports

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.

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).


Calendar

BOE Planning Session

Wednesday, Aug. 27

Bad Seed Auditions

Thursday, Aug. 28

Close Encounters with Benevolent ETs

Friday, Aug. 29



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