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condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.”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, 12 March 2014 00:00
It was a positive night for our local veterans, as the Oyster Bay/East Norwich Board of Education approved the Veteran’s Tax Exemption Law at last week’s board of education meeting. The new school tax break for veterans, signed into law in December, is a partial property tax exemption available to service veterans who are residents of districts that opt in. The meeting was a follow up to a public hearing on the tax exemption which took place on Feb. 11.
Eligible recipients are entitled to the exemptions provided in the Real Property Tax Law under the designations of “qualified owner,” “qualifying residential real property,” and “veteran.” Recipients are entitled to a maximum of $12,000 (qualified owner), $8,000 (qualifying residential real property), and $40,000 (veteran).
Saturday, 08 March 2014 00:00
Local author Rajdeep Paulus of Locust Valley is living the writer’s dream. After having her first young adult novel published last year with positive reviews, she has just released her second novel, and will be holding a book signing at The Book Revue in Huntington on March 12.
Her first book, Swimming Through Clouds, is about a high school transfer student and her friendship with the basketball captain during their senior year. The sequel, Seeing Through Stones, was released March 1.The mom of four girls only recently tried her hand at novel writing; an English major in college who then taught for a few years, says, “I spent about a decade doing the mom thing...then as my youngest got to be school age, my husband asked me, ‘What do you want to do with your life now?’”
Thursday, 06 March 2014 12:01
On Saturday, Feb. 22, as temperatures rose to well above freezing for the first time in weeks and the melting snow created a thick fog, the Oyster Bay High School Varsity Lady Baymen Basketball Team showed up at Long Island University ready to play.
Thursday, 27 February 2014 11:48
The Winter Varsity Sports Season is into post-season play in Oyster Bay. Many fine young athletes have excelled this season and were chosen by the Oyster Bay High School coaches as Athletes of the Month for February.
Cassidy Exum has been a member of the varsity wrestling team since his freshman year. Since that time, he has achieved All-County honors, which includes a Nassau County Small School County Championship. This year, Exum started his competitive season with success. He was a place winner in the annual Locust Valley Tournament, a Hank Paris Tournament Champion and a Bethpage Tournament Champion, where he was presented with the Champion of Champions Award. Exum’s success is due to his work ethic, dedication and discipline.; he is a fierce competitor which will help him as he competes for his second Nassau County Championship. Exum is coached by 2012 Coaches of the Year Jay Davis and Doug Axman.