For the 4th consecutive year, the County ended its fiscal year with a surplus.

On June, 23, 2023, our team at the Comptroller’s Office released the County’s Annual Comprehensive Financial Report (ACFR) for the fiscal year ended on December 31, 2022. We are proud to announce that for the fourth consecutive year, the County ended its fiscal year with a surplus. Nassau ended 2022 with a $435.2 million surplus in governmental funds. This positive net result is attributed primarily to sound fiscal management and higher sales tax revenue.

In addition, our team released the Popular Annual Financial Report (PAFR), which provides a user-friendly summary of the ACFR and the County’s finances, operations, and economy. The PAFR provides detailed information about the County’s financial condition and how your tax dollars and other revenues are being used.

The year-end surplus bolsters Nassau County’s strong financial position. Surplus funds are reserved to pay down the County’s past and future debt, to settle litigation, and to help fund benefits for our 8,000 employees and 12,000 retirees. For example, from 2011 to 2019, the County’s administration elected to defer mandatory pension contributions under a special program allowed by State law. Beginning in 2022, County leadership has elected not to defer contributions. In February 2022, the County paid off $122.9 million of past deferrals and paid the remaining $29.9 million in liability in February 2023. As a result, the County is current on its pension obligations for the first time in over a decade. Surplus funds are also used to pay tax certiorari refunds that result from grievances of properties’ assessed values.

Read the full press release about the annual financial reports here.

I had the honor of joining the Westbury Youth Soccer Club (WYSC) players at their Annual Gala, to celebrate their accomplishments throughout the season.

The WYSC and its Chairman Mateo Flores provide so many wonderful opportunities for children in Westbury and the surrounding areas. The Westbury community is blessed to have so many dedicated individuals and volunteers, who work toward the personal growth and development of our youth, beyond just playing on the soccer field. Congratulations to all the players, coaches, and parents!

Each summer, Nassau County offers internship opportunities for high school, college and graduate students. These experiences in various departments and divisions give the students an inside look at how Nassau County government serves our taxpayers.  Recently, I had the opportunity to speak with a group of County interns, tell them about the role of the Office of the Comptroller, and thank them for the meaningful contributions they are making to their respective departments. I sincerely hope their hands-on real-world experience at the County helps to shape their future professions!

Recently, Nassau County held a parade in my hometown of Manhasset, to celebrate the Manhasset High School Boys Lacrosse Team, who won the New York State Championship Title, for the second year in a row. This victory is something the players and coaches will remember for the rest of their lives. Special thanks to all the parents, families and members of the community, who came out to show their Manhasset pride in support of these outstanding athletes. These young athletes have made our County proud, and I look forward to celebrating the future accomplishments of all our young students and athletes throughout Nassau County.