Thursday, 11 July 2013 00:00Earlier this month Comptroller George Maragos misled 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condition was deteriorating and financial information available to municipal bond investors was either incomplete or outdated.”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.
Thursday, 06 March 2014 00:00
Westbury High School students are teaching younger children from Park Avenue Elementary School valuable life lessons about money and business skills through the High School Heroes program.
In this program, high school students that are taking Renate Johnson’s Junior Achievement class will go into first grade classrooms to teach 45-minute lessons.
“It is a program that gives high school and younger students confidence and teaches them about business and financial literacy,” said Johnson.
Saturday, 08 March 2014 00:00
The Westbury Historical Society will host Dr. Natalie Naylor, professor emerita at Hofstra University and author of Women in Long Island’s Past: Eminent Ladies and Everyday Lives at their next meeting on March 9.
Naylor’s presentation will focus on the place of women in Long Island’s history, including several prominent women from Westbury’s past.
Thursday, 20 February 2014 00:00
Albertson resident and Kellenberg sophomore Gabby Schreib qualified for the Millrose Games in New York City. Schreib qualified as a member of the Sprint Medley Relay along with Danielle Correia, Bridget McNierney, and Jazmine Fray.
The Kellenberg relay’s close second place finish in January’s Millrose Trials has moved them closer to defending the title they won in the same relay at last year’s Millrose Games. Schreib and her teammates time is currently second in the United States for girls track and field performances.
Thursday, 20 February 2014 00:00
Congratulations to Westbury athletes Michael Esposito, Eileen Harris, Brett Harris, and Michael Going, each of whom won awards in Race # 1 of the Jonas Chiropractic Run Nassau Series co-hosted by Nassau County and the Greater Long Island Running Club.
Michael Esposito, age 15, took home the second place award in the 15-19 age group with a time of 23 minutes, 6 seconds. Eileen Harris, age 42, earned the first place award in the women’s 40-44 age group. She completed the race with her 45 year old husband, Brett Harris, who was the third place award winner in the men’s 45-49 age group. Michael Going, age 41, scored third place honors in the 40-44 age group with a time of 20 minutes, 51 seconds.