Maragos ups Nassau's 2010 budget surplus

Nassau Comptroller George Maragos, who in March said the Republican county administration had ended 2010 with a $17.2-million surplus, has upped that figure to $26.6 million.

"As a result of the County and its various agencies closing their accounting records and completing their audits, net adjustments of $9.4 million were recognized," Maragos said in a statement.

He said the additional $9.4 million came from an "over accrual of a debt service reserve" by the Nassau Interim Finance Authority. That, along with $4.1 million from operations and $13.1 million from an accounting change, makes the $26.6-million surplus, Maragos added.

Evan Cohen, NIFA's executive director, did not respond to a query from Newsday, and board member George Marlin declined to comment, saying he had not seen Maragos' report.

Maragos, a Republican, said, "The $26.6 million is real money that will be added to the county's fund balance. As a result, the fund balance has increased from $64.2 million to $90.8 million."

Minority Leader Diane Yatauro (D-Glen Cove) said, "For the comptroller to say the county has a sizable surplus is absolute nonsense. If he has a huge excess of funds, then why is Mr. [Nassau County Executive Edward] Mangano firing 128 members of our workforce in an attempt to strive towards a balanced budget?"