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.
Wednesday, 22 October 2014 00:00
Local school districts are reaffirming student hygiene standards in the wake of the non-polio enterovirus (EV-D68) that’s been found in the United States. A strain of the enterovirus was found in Southampton’s middle and high schools, but officials say it was not the virus that has caused the national EV-D68 outbreak.
The enterovirus disproportionately affects infants, children and adolescents who lack immunity, according to the Center for Disease Control. School districts have been notified to follow New York State Health Department guidelines to combat possible infections.
Saturday, 11 October 2014 00:00
Audition Hosts: Eleanor Rigby’s Restauant, Mineola Village Hall, Piccola Bussola and Plum Tomatoes
Audition Team: Master Performance Artist Ed Dennehy of Huntington/ formerly of Mineola
Robert Busch, Little Neck and Melville Fire Department, Adrian Gaeckler: Oyster Bay/ Nassau Coliseum Staff, Nigel Gretton: Hempstead/ St John’s University Performing Arts Chair Lady Laura, Hempstead/ Global Performing Artist, Ralph DeSalvo: Williston Park, Musician/ Band Leader.
Al Trompeter, Entertainment Promoter
Special Touches: Bagelman of Mineola ( Entertainment Committee Host)
Creations de Belle of Mineola (Street Decorations/ Balloons)
Thursday, 16 October 2014 00:00
The Mineola Mustangs ended last year’s playoff run in a 34-6 drubbing from the West Hempstead Rams. Mineola was poised for another post season push in 2014 and it showed last week, with a 15-14 victory over the Rams in homecoming weekend.
With a slow start in the first half, Mineola (4-1) put their first points on the board in the second quarter with a field goal by senior Robert Lang. After a touchdown by the Rams (2-3), they headed into halftime 7-3.
Thursday, 09 October 2014 00:00
Despite two goals from Liam Going, the BU11 Mineola FC squad fell to a relentless and talented Hota Panthers team at Soccer Park in Plainview on Sept. 6. Hota jumped out to a 4-0 lead before Going connected on his first tally, launching a 30-yard free kick that dropped over the Hota keeper. The Mineola striker’s second goal brought his team to within two goals of their opponent, but Hota scored several more goals in the second half in a strong performance. Mineola’s Nicholas Buffolino and Luke Sommese gave solid efforts for Mineola in the season-opener for both teams.