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condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.”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.
Saturday, 07 December 2013 00:00
There’s no better way to get into the holiday spirit than with music, and critically acclaimed pianist Stan Wiest will be hosting a holiday sing-a-long at Locust Valley Library to help get everyone in the mood on Sunday, Dec. 8, from 2 to 4 p.m.
Wiest has been playing piano since he was 5 years old, and now, at age 69, has recorded his first CD; an album that has been so well-received, it is a top seller on Amazon.com. The talented pianist spent much of his early career traveling and says he played every supper club in Manhattan, while also working full time on a TV soap opera. To promote his album, his local circuit also includes a presentation at Forest Books in Glen Cove on Dec. 12.
About 30 years ago, Wiest stopped traveling to be with his wife and kids and has been running a music entertainment business in Fort Salonga. Now, with his new album, he’s back on the road, something he never expected to happen at this point in his life.
Friday, 06 December 2013 00:00
It was a cold night for the annual Menorah lighting at the Derby Hall Bandstand last Monday. The event, which is sponsored by the Oyster Bay Civic Association, was well attended though, with Oyster Bay Jewish Center’s Rabbi Marvin Demant leading the crowd in cheerful Chanukah songs.
“Every year we gather at the gazebo to celebrate the miracle of Chanukah,” said Rabbi Demant. “It is actually very special this year because Thanksgiving and Chanukah will overlap for the first time in almost 100 years.”
Thursday, 05 December 2013 00:00
With grit, determination and all-out teamwork, the Friends Academy Boys Varsity Soccer team completed their quest for a third state soccer championship, defeating a tough Lansing High School, 1-0, in the New York Class C State Championships.
Both teams kept the game at a tight 0-0, until 20 minutes into the second half, when a throw-in from senior Patrick Moodhe (Manhasset) connected with the head of senior Jon Nierenberg (Sands Point) for the game’s only goal.
Thursday, 28 November 2013 00:00
Nicole Giannetti entered her third cross country state meet in her career with one goal in mind: to place in the top 20 and earn an all-state medal. After finishing 38th in 2011 and 26th in 2010, the goal was definitely within her reach.
“She was ranked 25th according to one website, so we knew it was going to be close,” said Coach Kevin Cotter. “After looking at some of the times of her competitors, I told her she could potentially finish in the top 10. If she fell short, at least she would still remain in the top 20 and earn that elusive medal.”