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Letter: County Financial Report Card

The Financial condition of the County continues to improve by all fundamental measures, primarily due to the improving economy and cost controls instituted by the Mangano administration. From residents’ point of view, the County’s improved financial state is reflected in the county portion of their property tax bill, which has not increased in the last four years.

 

The mid-year financial projections for 2013 indicate that the County will end the year with a $5.6 million budgetary surplus. This follows on the heels of 2012’s surplus of $41.5 million, now confirmed by independent auditors.  These budget surpluses are due to increased sales tax revenues from the improving economy (up 10.4 percent year to date) and reduced Social Service costs due to lower unemployment (down to 6 percent, one of the lowest rates in New York

State and lower than that of Suffolk County and New York City.)

 

All other financial fundamentals also continue to improve, including the structural gap, property tax refunds due to assessment corrections and the County’s long term debt.  I’ll address these three points in turn.

 

The County’s structural gap (the difference between current expenses and recurring revenues) continues its year-over-year improvement since 2009. The structural gap is projected at a seven year low of $54.4 million, down from $116.9 million in 2012 – a 53.5 percent improvement over one year ago - and down from $251.6 million in 2009 - a 78.4 percent improvement over four years.  

 

The County’s growing liability for property tax refunds appears to have been addressed and is expected to decline.   The County’s average payouts have been reduced to about $60.3 million annually for the last four years, down from an annual average of $93 million under the previous administration.  This decrease does not come at the expense of homeowners: it is due to a more aggressive policy on the part of the Mangano Administration of challenging commercial grievances.

 

It is worth noting, given the public debate about the county debt, that the long term debt increased only modestly due to 47 percent lower new borrowing over the last four years compared with the period of 2006-2009. The total projected year end 2013 debt of $3.595 billion is quite manageable and only about 30 percent higher than the annual budgetary revenues of the County. Most families manage mortgages that are 300 percent to 400 percent of their family’s annual income.

 

Although the County’s financial fundamentals have improved by all measures, the County continues to face fiscal challenges. The wage freeze currently challenged in the courts is the greatest potential liability, estimated at $230 million by year’s end.  To protect the County’s improving financial state, the County needs to address this risk in the 2014 Multi-Year Plan or resolve it through collective bargaining. 

George Maragos 


News

Dedicating itself to brining freshly made burgers to its customers, Smashburger in New Hyde Park provides gourmet hamburgers, but with a twist.

 

Since its grand opening on Oct. 18, 2013, business at Smashburger has been a smash, says owner Irwin Kruger.

 

“The location has been great for us,” added Kruger. “We have good tenants that surround us. It’s conveniently located on Marcus Avenue, and there’s plenty of parking.”

At the July 18 meeting of the Herricks Board of Education, the school district addressed a recent response by the State Education Department (SED) in regards to a recent hot-button topic that has many parents, students, and teachers alike up in arms—the rapid and stressful increase in state assessment testing.

 

Superintendent of Schools Dr. John Bierwirth recently received an email from Assistant SED Commissioner Dr. Julia Rafal-Baer, addressing the concerns of both parents and school districts in New York regarding the great deal of stress that many students have been put under as a result of what many have referred to “excessive state testing.” 

 

Many parents and school administrators argue these rob children of valuable classroom learning time in favor of multiple standardized assessment exams designed to gauge teacher performance, and

Rafal-Baer’s email acknowledged the difficulties that many students have been undergoing since the testing was implemented last year. 


Sports

The Sewanhaka Indians’ very talented lacrosse defenseman, Tyler Regnier, will be playing next season for the Division 1 Rutgers University Scarlet Knights.

 

Regnier started playing lacrosse as a third grader, when he played with the New Hyde Park Police Activity League, a youth lacrosse program.

 

“At first, I wasn’t too serious,” he said recently. “But I just stuck with it, a lot of training, a lot of travel and a lot of practice made it happen.”

Students at Charles Water Karate & Fitness in Williston Park received belt promotions after completing a series of extensive exams.

 

Graduates

From New Hyde Park:  Jonah Khorrami to brown belt, Isabella Castelli to purple belt.

 

From Mineola:  Alexandra Santos and Kayla Toal to, Kayla Toal yellow belt, Jason DeJesus to Yellow/White Belt.

 

From Williston Park:  Mario Lombardo to red belt, Daniel Melore to blue belt, Grayson Lee to yellow/white belt.

 

From Garden City:  Alexandra Delgais: to brown belt, Jake Delgais to yellow/white belt.

 

From Roslyn Heights:  Suhani Jain to red belt.  

 

From Uniondale:  Isiah McClean to yellow/white belt.



Calendar

15 Below - July 23

Page Turner - July 23

Hip Pickles - July 28


Columns

1959: The Year The Music Stopped Playing
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