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Letter: A Work of Fiction?

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condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.”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.

Howard Weitzman

News

Last week was one of Oyster Bay’s biggest, most anticipated summer events, the Italian American Society’s St. Rocco’s Festival. Returning to its usually spot in Fireman’s Field on Shore Avenue, the festival was filled with amusement rides, live music, and great food and company.

“We come every year to St. Rocco’s with friends,” said Laura Regan of East Norwich. “The rides and awesome food make it a lot of fun.”

One of Oyster Bay’s newest summer traditions is Dancing in the Street, which takes place every Friday in July at the gazebo in town. Sponsored by the Oyster Bay Main Street Association, half of Audrey Avenue is closed off and a DJ is called in for a great night of community dancing from 7-9 p.m.

“This is a great tradition and a beautiful town,” said visitor Michaela Lachance from Cooperstown, NY. “Everyone is having a wonderful time.”


Sports

Oakcliff’s intensive training program provided a high level of competition last weekend at the U.S. Women’s Match Racing Championship in Oyster Bay.

This year, the teams selected for the event were highly ranked through the United States, and several of the competitors are past and current Oakcliff trainees, including Elizabeth Shaw, Kathryn Shiber, Madeline Gill, and Danielle Gallo.

A total of 11 members of St. Dominic Track Team (grades 1-8) recently medaled at the Nassau-Suffolk CYO Championship Finals at Mitchel Field. In the finals, the athletes competed against the finalists from all three regions, representing more than 2,500 athletes from 23 other parishes.

In addition to the student athletes’ success, the track coaches were honored as well. St. Dominic CYO Track coaches Phil Schade (grades 1-3), Julie and Mike Keffer (grades 4-6) and Rich Cameron (grades 7-8) were selected by peer coaches in their region for the NSCYO Team Sportsmanship Award. The Saint Dominic CYO track program, in its second year, has already proven to be a force to be reckoned with and the young runners are among the best on Long Island.


Calendar

OB Band Concerts

Wednesday, July 23

Music Under The Stars

Friday, July 25

Annual Chicken BBQ

Saturday, July 26



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