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Posted on: September 15, 2014

[ARCHIVED] Maragos: Nassau County Releases Audited 2013 Financial Results

Mineola, NY- Nassau County Comptroller George Maragos released the audited fiscal year 2013 Comprehensive Annual Financial Report (CAFR) and confirmed the unaudited results his office released in April of this year. The County finished 2013 with a budgetary surplus of $55 million in the five operating funds primarily due to $115.5 million in borrowing to pay for property tax refunds, Judgments, Settlements and Termination Pay as authorized by the Legislature and the Nassau County Interim Finance Authority (NIFA). Based on the other two required reporting methodologies, the County ended with a $48.6 million surplus on a Generally Accepted Accounting Principles (GAAP) basis and a negative $78.6 million on a NIFA presentation basis after excluding certain financing sources such as certain borrowed funds and bond premiums.

Copies of the 2013 Comprehensive Annual Financial Report are available on the Comptroller’s website or by request.

2013 Comprehensive Annual Financial Report
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