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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

Bank Robbery Suspects Arrested

Nassau County Robbery Squad detectives arrested two men in connection with a bank robbery that occurred on April 7 at 2:17 p.m. in Mineola.

Road improvement and storm preparation dominated the discussion of the Village of Mineola’s preliminary 2014-15 budget released last week. The proposed budget totals $19.33 million, a 1.38 percent increase from last year.

The tentative budget also represents a .34 percent tax increase from last year, when Mineola’s tax bump was .74 percent.

 

The village has budgeted almost $1 million for road and curb upgrades, Mayor Scott Strauss estimated. The road maintenance line in the budget received an $80,000 to increase to $580,000.


Sports

FC Mineola Wins Two

The BU10 FC Mineola opened league play with 3-0 win over the Hewlett Lawrence Blue Sonic on April 3. Mineola was led by Liam Going (two goals and an assist). The first goal came off a beautiful cross from Liam Russelman that Going sent to the back of the net.  Fifteen minutes later the Liam to Liam connection struck again when Russelman found Going open at the top of the box for another shot and score by the talented Mineola player.

 

Mineola’s final goal came midway through the second half as Gregory Kenney redirected a good cross past the Hewlett goalie. The back line of Peter Murphy, Luke Sommese and Brent Muessig controlled the defensive end of the field limiting the number of shots Hewlett took on goal and the few that made it through were gobbled up by keeper Andrew Pizzardi. Brian Heckelman, Phil Macchietto and James Teadore all contributed with stellar play at the midfield position.

Marissa Cotroneo

Senior Captain Marissa Cotroneo excelled at the Paul Limmer Invitation on Saturday, April 5, held at Mepham High School.  Cotroneo placed first overall in the 1500 meters in one of the most exciting, come from behind victories of the season.


Calendar

Village Meeting - April 16

Zoning Board Meeting - April 17

Egg Hunts and Fun Fairs - April 19


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