Fiscal Responsibility

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Aug 11, 2021 No Comments ›› johnmancusi

“Good people” don’t necessarily make good leaders. Over the last two years Glen Cove has seen an explosion in spending and debt. Despite borrowing $6,000,000 in 2019, the current council borrowed another $9,000,000 in 2021. This borrowing comes on top of an 8% property tax increase leveled on residents. The non-partisan New York State Fiscal Stress Monitoring System (FSM) objectively identifies issues with budgetary solvency: the ability to generate enough revenue to meet expenditures. The FSM establishes a score for municipalities within the state. The higher the score, the worse the financial condition. Here is how Glen Cove fared over the last few years during the Tim Tenke administrations:2017 – 28.3 (No Stress Designation) 2018 – 50.4 (Susceptible Fiscal Stress) 2019 – 60 (Moderate Fiscal Stress) The trend is unmistakable. Your City government is on a reckless tax and spend collision course with financial disaster. The causes are many, the solution simple: elect a government that treats your tax dollars like the hard earned income it is… not “monopoly money” getting strewn about a boardgame.

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