Written by George Maragos Friday, 04 January 2013 00:00
The adopted $2.8 billion Nassau County budget for fiscal year 2013 represents a 0.2 percent decrease in spending compared to the 2012 budget. For the third consecutive year, the budget holds the line on property taxes with no increase.
The budget is fiscally conservative containing only $60.1 million of revenue and expenditure items considered as having risk. This is the lowest amount of budgetary risk in over four years. The $60.1 million at risk is comprised of $39.1 million in possible lower revenues and $21 million in possible higher expense. This level of risk is about 2 percent of the total budget and should be manageable.
Using Generally Accepted Accounting Principles (GAAP) as defined by the Nassau County Interim Finance Authority (NIFA), the projected risk is $125.1 million. However, the NIFA GAAP risk still represents an 11 percent improvement over 2012 and a 32 percent improvement from 2009. The distinction between the risk as presented under the budgetary basis and the NIFA GAAP basis is attributable to the different treatment of certain revenues and expenses. NIFA GAAP excludes certain income from investments, bond premiums and bond proceeds used to pay expenditures.
The adopted 2013 budget continues the improving fiscal trends established over the last three years by:
• Reducing the Structural Gap to less than $35 million, an 86 percent improvement from the peak in 2009 of $252 million;
• Controlling spending to just 1.3 percent over recurring revenues, the lowest margin since 2004;
• Reducing borrowing to $140 million, approximately 44 percent lower than the average annual borrowing over the prior 5 years, primarily for capital project investments.
The principal budgetary challenges facing the county are its low fund balance, which stood at $40.5 million at the end of 2011, the continuing skyrocketing pension contributions, and the unrelenting increases in state and federal mandated costs. At the same time, the county revenues are essentially flat due to the weak economy. The rating agencies have noted these challenges, evidenced by a Moody’s downgrade in October. The administration, NIFA and the legislature need to work together to address these growing challenges in 2013 and beyond.
Wednesday, 12 March 2014 00:00
On March 7, members of the Division Avenue High School PTSA held their fourteenth annual Sweeps and Chinese Auction fundraiser. According to First Vice President of Division Avenue High School PTSA Laura Brown, there were about 150 Chinese auction baskets and 30 bingo prizes that were given out during this year’s event.
The PTSA has been organizing this event for the past 14 years, but it only started to get bigger in the last three years. It is now the largest event that the PTSA has to organize every year. “It wouldn’t be possible without the cooperation of the custodial staff, and all the PTSA members,” said Brown. “We reserve tables now because there’s probably 400 people in there.”
Saturday, 08 March 2014 00:00
Jessy Davidson, a student at MacArthur High School in Levittown, organized and held a blood drive at the John Theissen Children’s Foundation on Wantagh Ave. this past weekend.
Davidson, a junior, hopes to earn a small college scholarship through the New York Blood Center Bloodstock Scholarship Program by hosting this blood drive. If at least 30 donors come through, she will qualify for the scholarship.
Anyone who is in high school is able to participate in this scholarship, according to Davidson.
Thursday, 06 March 2014 00:00
The Island Trees track program is pleased to announce that four members of the team will be participating in the New York State tournament. Students honored include:
Alexa Dolgos with a personal best of 1.37 in the 600 meter run; Alyssa Mustafa with a personal best of 17 feet, 3.5 inches in the long jump and a personal best of 36 minutes 1.3 seconds in the triple jump competition; Andrew Zabala with a personal best of 43 feet 5 inches in the triple jump; and Joe Stanco with 47 minutes 10.5 seconds in the shot put.
— Submitted by Varsity Track Coach Joseph Manna
Thursday, 06 March 2014 00:00
The Island Trees Bulldogs Wrestling team finished the 2013-2014 season with an overall record of 18-8. The team defeated Syosset in the Dual Meet Championship playoffs 34-27, and then lost to Plainedge in the second round 48-29. The team had a strong season and was ranked no. 8 in Nassau County. The Bulldogs entered 22 wrestlers in the Nassau County Qualifying Tournament, out of which, eleven of the team’s All-League grapplers qualified for the coveted Nassau County Wrestling Tournament. Six wrestlers also received All-Conference honors, with one wrestler earning a wildcard into the tournament, for a total of 12 Island Trees wrestlers competing.