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Letter: Fiscal Failure

After reading “State: Glen Cove finances most stressed on LI,” published in Newsday on June 18 and I must say I am deeply concerned with Mayor Suozzi’s indifference to the gravity of his fiduciary responsibility to Glen Cove taxpayers. Another source of concern for me is the Mayor’s dismissive attitude regarding the NY State Comptroller’s warnings and suggestions as they pertain to Glen Cove’s financial health. Under Suozzi’s watch, Glen Cove taxpayers are now burdened with the “most fiscally stressed municipality on Long Island,” and ...” one of the nine most stressed in New York” as well as a list of stressful negatives which include higher taxes, a bond downgrade, a growing deficit, and overwhelming debt.

The numbers speak for themselves. In 2006, after his first full year in office, the city had $57 million in debt and a $14 million unfunded deficit which left Glen Cove taxpayers with $71 million in total debt. For the year ended 2012, Mayor Suozzi had amassed $67 million in debt, and is still carrying an unfunded deficit in excess of $4 million for a total debt of $71million to the chagrin of the Glen Cove taxpayers. (Budgets through 2012 were voted upon by members of his council elected prior to 2012) The same debt continues despite his borrowing nearly $13 million to cover the unfunded deficit, raising our taxes 60 percent during his terms and selling the sewage treatment plant to Nassau County, which he claimed would save the city $4 million annually in expenses. After all of his smoke and mirrors we are back where we started but with taxes that are 60 percent higher!

The mayor’s comment in the article he said he ran in 2005 because he knew Glen Cove was in financial stress at that time. One can only assume he is running again because Glen Cove is still in financial stress. If he could not fix the problem in eight years why would anyone believe he can fix it at all?

In my younger years I watched a popular television show that was eventually canceled. The name of the show … Eight is Enough.

Reginald Spinello
Glen Cove City Councilman