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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

Five year projection shows tough road ahead

The Levittown Board of Education unanimously adopted a $198.7 million spending plan for the 2014-2015 school year, which comes with a proposed tax levy increase of 1.62 percent. This represents a $2.1 million increase from last year, for a proposed levy of $133.2 million.   

 

The Levittown school district will receive $49,163,299 in state aid for the 2014-2015 school year, which increased by $690,049 from last year’s budget. The other revenues also show an increase of $684,250 from last year. 

 

In the past seven years, the district received its largest percentage of state aid in 2008-2009 with 30 percent. According to Assistant Superintendent Bill Pastore, state aid has decreased since then, leveling off for the past few years and coming in at slightly below 25 percent for 2014-15.

Seven in contest for three seats on school board

On April 8, members of the Levittown Property Owners Association invited all seven candidates in the running for Island Trees School District Board of Education to a “Meet the Candidates” forum. Of the seven only four attended, and only three spoke on the dais. 

 

According to Levittown Property Owners President Diane Kirk, members of the Island Trees School District were invited to attend the forum, but declined stating that they were going to attend their own forum on May 12.

 

Challenger Brian Fielding, a 1995 Island Trees High School graduate, opened the forum with the promise of more transparency.  


Sports

Cantiague Park Senior Men’s Golf League had its first tournament on Thursday April 4. Twenty golfers came out on on a crisp but sunny morning. Charlie Hong was the only man to score under a 40, with a 38 and won for low overall score. Jim O’ Brien  scored a 41, and won low overall net in a tie-breaker with Mike Guerriero. 

 

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 percent 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. 

Friday Pins, Pizza & Pepsi

Trevor Williams 166,101

 

Keith Kyte 137,119,115

 

Anthony Baio 111,73

 

Alyssa Williams 141,133,120

 

Lauren Walpole 114,105,96

 

Kaitlyn Insinna 106,68,67

 

Robert Brooler 107,97

 

Frank Pietraniello 94

 

Friday Bumper Stars

Matthew Banfich 140,95

 

Nicky Barrera 115,99

 

Jake Mauro 107

 

Anthony Barrera 97,79

 

Michael Pietraniello 97,87

 

Ty Peranzo 95

 

Steven Tiemer 92

 

Nick Bevinetto 90,82

 

Ava Banfich 103,101

 

Julianna Mauro 103,87

 

Gianna Centonze 102,91

 

Victoria Gray 91,87

 

Mike Rosen 87,86

 

Steven Brauer 85,83

 

Stephan Mandola 83

 

Joey Mohaudt 81

 

Pantelis Siriodis 80

 

Kelsey Casperson 85,73

 

Stephanie Tiemer 71,67

 

Kathleen Hoffman 68,65

 

Friday Rising Stars

Jason Tiemer 191,169,138

 

Max Benson 179

 

Andrew Scarpaci 168,162,148

 

Avery Benson 151,149,135

 

Matthew Brezinski 143,110

 

Ted Fiber 128,115,114

 

Paul Klein 126,107

 

Nicholas Pisano 123,115

 

Billy Walsh 108

 

Saturday

Levittown Island trees

 

Michael Beck 117,89

 

Zach Pilser 114,110

 

Sophia Bloom 93,90

 

Olivia Bloom 81,79

 

Christian Tucci 88,85

 

Louis Bonaventura 84,79

 

Ava Tucci 74,65

 

— Submitted by the South Levittown Lanes


Calendar

Maundy Thursday - April 17

Andrew Dice Clay - April 17

American Legion - April 18


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