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condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.”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.
Friday, 18 April 2014 00:00
“I didn’t know I needed my own Teddy Bear,” said a woman after the first annual Teddy’s Taste of the West dinner and fundraiser at Canterbury Ales on March 19.
Members were given an authentic Teddy Bear as a surprise gift at the end of the evening. As they say, membership has its privileges and that includes a June 11 event when Ken Burns will come to share a preview of his new film on three Roosevelts. Burns’ film explores the political and family ties between President Theodore Roosevelt, President Franklin Roosevelt and his wife, First Lady Eleanor Roosevelt, a Roosevelt in her own right.
Thursday, 17 April 2014 08:05
The preliminary 2014-15 school budget was adopted at last Tuesday night’s Oyster Bay-East Norwich school board meeting. The proposed budget, which came in at a figure of $54,578,478, is a 2.01 percent difference from the 2013-14 final budget figure of $53,504,111. With a budget to budget change of $1,074,367, it is the lowest expenditure increase in the last 15 years. No programs were cut as a result of balancing this budget.
“The biggest change in budget numbers is in the area of salaries and wages with a budget to budget increase of $683,428,” said School Superintendent Dr. Laura Seinfeld.
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.”