Friday, 12 July 2013 00:00
Earlier this month Comptroller George Maragos mislead the public during his announcement of the county’s 2012 year-end financial results. Publicly releasing the County’s year-end fiscal results is one of the primary responsibilities of the Comptroller and typically occurs in February or early March. Every year Maragos has been in office he has delayed the release — this year pushing it to June — in effect creating his own timeline. This raises serious doubts about the County’s financial condition and represents an abdication of responsibility by the Comptroller. It is my firm belief that Maragos’ announcement of the year-end financial results is a work of fiction.
It is the Comptroller’s job to issue honest, timely, and accurate financial reports rooted in reality, not to play the role of fiscal Houdini by fudging the numbers to hide a deficit. The rating agencies aren’t buying these misleading statements, and just this month Fitch downgraded Nassau County’s bond status given the poor state of the county’s fiscal health.
What Maragos conveniently excluded in his year-end results for fiscal year 2012 is the hundreds of millions of dollars owed by the county to taxpayers who successfully challenged their property tax assessment. The report also irresponsibly assumes that Nassau County will receive the maximum reimbursement of the county’s expenses associated with the aftermath of Superstorm Sandy.
The Securities and Exchange Commission recently charged the city of Harrisburg, PA with securities fraud for “making misleading public statements when its financial condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.” The current administration can no longer mislead voters by borrowing billions for short-term gain, pushing bills onto future generations, ignoring potential liabilities that the county is legally-required to pay, and then pretending to have a surplus. Nassau residents and bond holders need to know the true state of this County’s finances, and we need to know it now — before we become another Harrisburg.
Under the Suozzi administration, the County experienced eight verified surpluses and eight balanced budgets, thirteen bond upgrades (more than any other municipality in America), and county finances that NIFA and the rating agencies described as “stable”. Since 2010, Nassau has experienced three bond downgrades, the largest deficit in recent memory and a negative outlook from the rating agencies. These issues create a hole in the financial results large enough to drive a truck through. If this were part of an accounting exam, Maragos would receive an “F.” Nassau voters deserve honesty from their elected officials and it’s time Maragos tells the public the truth about the state of our County’s budget.
Howard Weitzman served as Nassau County Comptroller from 2001-2009 and is currently running for that position.
Wednesday, 23 April 2014 00:00
Tundra, the arctic snowy owl, fixed her golden eyes upon me, clucked her beak, then turned her head, ready for her close-up. Two months earlier she was near death at LaGuardia Airport, emaciated with a broken wing, but was saved by a dedicated group of people called Volunteers for Wildlife. The organization located at Bailey Arboretum in Lattingtown houses not only the rehabilitation hospital for wildlife but has aviaries where the public can see the rescued birds.
Earlier this month at the Seawanhaka Yacht Club, 160 people arrived for the organization’s fundraising gala.
Saturday, 19 April 2014 00:00
Movie lovers once again have a chance to see first-run films in the theater without having to travel far. Glen Cove Cinemas re-opened last week, with a ribbon-cutting ceremony and free films offered to celebrate the occasion.
“Thanks to all of the support we have here and all of you, Glen Cove is once again open for business,” said Mayor Reginald Spinello at the ceremony, held outside the theater on Thursday, April 10. “This is going to be so good for Glen Cove and the surrounding communities.”
Thursday, 17 April 2014 09:39
Muttontown resident and Kellenberg freshman Ceara Ann Conroy has been named an All-League athlete for Girls Winter Track. The title of All-League is awarded to athletes based on a vote of all the coaches in the NSCHSAA League. All of the Girls Winter Track coaches in the league vote based on the athletes performance during the season, and Conroy’s outstanding performance has earned her the title of All League this year.
Thursday, 17 April 2014 09:37
The Girls Varsity Lacrosse program at Oyster Bay High School is just in its second year and already it is making a difference. Senior defender Danielle Maggi has committed to play Division III lacrosse at Albright College.
Last year Maggi was recognized as the “Most Improved Player,” and this year she is being recruited to play in college.
Maggi said, “We did very well in our first varsity season last year (12-2). This year we are 100 percent going for the conference. I’m excited we finally have a varsity team.”