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Town Receives Top Rating from Moody's, Rain Barrels

A weekly look-in at news in the Town of Hempstead.

The Town of Hempstead has once again received the highest quality bond rating (Aaa) from Moody's Investors Service, the agency announced Monday.

According to Moody's, the Aaa rating reflects the town's "prudent fiscal management characterized by conservative budgeting practices, development of multi-year financial forecasts and formal fund balance policy; anticipated maintenance of ample financial flexibility despite four years of general fund and two years of operating fund deficits and a projected deficit in fiscal 2012 (Dec. 31, 2012); large and diversified tax base; and moderate debt level with rapid amortization of principal."

Moody's said in a release that the one challenge the town faces over the next year is that its general fund balance has been cut in half over the past four years reflecting declining economically sensitive mortgage tax revenues.

The agency also said that the town's rating could go down if there is a "failure to implement revenue and/or expenditure enhancements in the fiscal 2013 budget to return to structural balance" or if there are "further declines in fiscal 2012 than what is currently expected."

TOH Celebrates Rain Barrel, Composting Initiative

Environmentalists from throughout Nassau County gathered at Merrick’s Norman J. Levy Park & Preserve last Thursday to celebrate the Town of Hempstead’s composting and rain barrel initiative.

Already, 1,839 residents have pre-registered to receive a composting unit or rain barrel from the Town of Hempstead for $45 apiece, which is about half of the retail price.

The rain barrels help to conserve tap water, saves money by using water from rain instead of tap water and helps reduce harmful storm water runoff into bays and waterways.

Click here to read more about the rain barrels issued by the Town of Hempstead.

Sam Livingston August 26, 2012 at 10:55 AM
Thank you Kate Murray and the Town of Hempstead for a good job and keeping us out of the problems that the county has!
Robert Demarco August 26, 2012 at 11:51 AM
What TOH department do you work for, Sam? The bond rating is no indication of how the TOH is run. I would like to know about the budget in the Animal Shelter, things like that. Kate will never answer those questions. These self-praising bozos will feed off the bond rating for months.
Longbeacher August 26, 2012 at 12:49 PM
its easy to have a good rating when you are stealing and over charging tax payers
Cecelia Sommers August 26, 2012 at 12:53 PM
Rain barrel's whats to celebrate? it takes 360 gallons of water to pruduce the barrel more of the same WASTE from the toh and where is that 7.45 million dollars at the aninmal shelter it ther going to be a refund or is that already being used to keep some people in the style of living they are use to
Cecelia Sommers August 26, 2012 at 12:55 PM
remember to show up sept 4th at the town of hempstead to save levittown from her
Felix Procacci August 26, 2012 at 01:06 PM
Top credit rating does not mean fiscally responsible or low tax increases or common sense see the following articles : http://merrick.patch.com/articles/letter-to-the-editor-what-residents-should-know-about-hempstead-town-s-2012-budget http://malverne-lynbrook.patch.com/blog_posts/supervisor-kate-murrays-rain-barrel-program-what-residents-should-know http://malverne-lynbrook.patch.com/blog_posts/hempstead-town-clerk-mark-bonilla-budgets-600k-in-payments-from-hempstead-animal-shelter-in-2011 http://www.youtube.com/watch?v=Nzq67LIQ3dw Nassau County would have a Top Credit rating if Mangano was willing to raise taxes as much as Kate Murray does. This year, Kate Murray will raise taxes for the 2013 fiscal year, the reason, SHE IS NOT UP FOR RE-ELECTION. Next year, expect the announcement of a Tax Freeze, afterall, SHE IS UP FOR RE-ELECTION.
Felix Procacci August 26, 2012 at 01:07 PM
Top credit rating does not mean fiscally responsible or low tax increases or common sense see the following articles : http://merrick.patch.com/articles/letter-to-the-editor-what-residents-should-know-about-hempstead-town-s-2012-budget http://malverne-lynbrook.patch.com/blog_posts/supervisor-kate-murrays-rain-barrel-program-what-residents-should-know http://malverne-lynbrook.patch.com/blog_posts/hempstead-town-clerk-mark-bonilla-budgets-600k-in-payments-from-hempstead-animal-shelter-in-2011 http://www.youtube.com/watch?v=Nzq67LIQ3dw Nassau County would have a Top Credit rating if Mangano was willing to raise taxes as much as Kate Murray does. This year, Kate Murray will raise taxes for the 2013 fiscal year, the reason, SHE IS NOT UP FOR RE-ELECTION. Next year, expect the announcement of a Tax Freeze, afterall, SHE IS UP FOR RE-ELECTION.
Chris August 26, 2012 at 02:30 PM
The Town claims that they do not have the money to repair the broken streets in my neighborhood. Yet they have money to hand out rain barrels and compost pots. Drive around Sunrise or Merrick roads. The garbage is strewn everywhere. The weeds are knee high on the sidewalks and curbs. This town is filthy. Kate Murray gives us a windmill in lido beach.
Chris August 26, 2012 at 02:31 PM
What exactly does this town do for us?
Pebble Man August 26, 2012 at 02:45 PM
Republicans cutting spending and taxes! Maybe this will force some more of the Democrats' Section 8 and welfare dependent scum out of our town and help raise our property values again!
Pebble Man August 26, 2012 at 02:46 PM
If she was a Democrat, you'd be having a wet dream, you liberal fraud!
Pebble Man August 26, 2012 at 02:47 PM
If she was a Democrat, you'd be having a wet dream, you liberal fraud!
Robert Demarco August 26, 2012 at 03:05 PM
Murray is as crooked a politician as there is in Nassau County, and I am no liberal. She is a fraud and a phony, and follows the Party line. Try and get an answer from her about the six figure employees at the TOH Animal Shelter. She takes care of the Party faithful, regardless of what they do or don't do for TOH.
Ralph Carracio August 26, 2012 at 03:08 PM
No wonder towns like Lido Beach, Pt. Lookout, East Atlantic Beach and Atlantic beach are seeing big spike in home prices even as Long Beach stagnates. These other coastal towns are becoming red hot destinations for home buyers because they are stable and on a good financial footing.
Robert Demarco August 26, 2012 at 03:19 PM
Location, location, location. And the prices in Long Beach, south of Park are not cheap, either. It has nothing to do with Murray or the bond rating. They have money to give their cronies, but nothing to clean up the Town.
MAC August 26, 2012 at 03:20 PM
Actually Felix the article says in he first few lines how the rating is because they are fiscally prudent. We all know that you hate Kate Murray and the leaders of the the TOH. Last November you had the oppurtunity to vote them out of office and they won by a two to one margin. So you and Robert Demarco can scream and yell every time there is an article about Kate Murray and the TOH, but eventally the rest of us like them and I don't think they are going awhere soon.
Felix Procacci August 26, 2012 at 03:24 PM
Look at the Kate Murray's record NOT THE RHETORIC AND PROPAGANDA : http://merrick.patch.com/articles/letter-to-the-editor-what-residents-should-know-about-hempstead-town-s-2012-budget KATE MURRAY will be RAISING TAXES for fiscal year 2013. Last year she voted to raise SANITATION DISTRICT 6 TAXES 15% (46% in 8 years). Over the last 8 years Kate Murray raised Town Taxes 32%. SHE HASN'T CUT ANY SPENDING, LOOK AT THE BUDGET, NOT THE RHETORIC
Cecelia Sommers August 26, 2012 at 03:28 PM
The only reason why shes in that chair is because her GODFATHER originally appointed her their and when someone is appointed there is usualy an agenda she was suppose to be in congress last year but she had so much bad press from the town of hempstead animal shelter she didn't get the position so were stuck with her and where is that 7.45 million dollars and the 600,000 thousand dollars the town clerk gets from the shelter for dog licencing?
Felix Procacci August 26, 2012 at 03:39 PM
MAC "Prudent Fiscal Management" just means that you don't spend what you don't have. The fact is Kate Murray over taxes residents so she has the ability to overspend on Town cronies, doesn't make her governent fiscally responsible. The fact of the matter is residents are not aware of all the Town's wasteful spending. Newsday does not write negative stories about Kate Murray even though they have a reporter at each meeting. Read the articles I wrote. Newsday refused to print them, even as a letter to the editor. If residents don't know what is going on, how can they make an informed choice? Most of the information they get about Town Government comes from Kate Murray in the mail, and it is NEVER negative or even comprehensive. MAC, do you support 25 Kate Murray mailings per year and it's enviromental impact? Do you really think that Kate Murray's Rain Barrel program is economical or even practical? Instead of talking Party affilliation, why don't you talk about what Kate has done, PLEASE BE SPECIFIC, and state the real costs of her programs.
Felix Procacci August 26, 2012 at 03:44 PM
Pebble Man, I am a Republican. Does that make me a liberal fraud? I never speak about party affilliation, I always speak on the issues. Good policy is good policy no matter which polical party implements it.
paul henck August 26, 2012 at 04:24 PM
Cecelia, that 360 gallons water to produce the barrel will be compensated for after 10 fill ups [if it's a 35 gal. barrel] thereby saving you on water bill and ultimately conserving water. I made 2 of them myself,it's easy and green .Good luck, Paul
Robert Demarco August 26, 2012 at 04:37 PM
Mac, you think it is ok for Murray and her cronies to give away tax tax money to friends and benefactior. I don't care how fiscally sound the TOH is, they should be prudent with our tax monies. If she does such a good job why does Levittown, Kate's home town, look so bad? I am not talking about the vanant stores, but rather the overgrown weeds, the broken streets and sidewalks, etc. Yet for most of the summer they had TOH employees working on Sunday, at premium pay in the parkm near my house. This is how they reward the faithful. So, Mac, if you are ok with your hard earned tax dollars being wasted, continue to vote for Murray and Hudes.
Felix Procacci August 26, 2012 at 04:37 PM
Paul, it will take you many years to recover your investment, and any savings on your water bill is negligible, please read the facts : http://malverne-lynbrook.patch.com/blog_posts/supervisor-kate-murrays-rain-barrel-program-what-residents-should-know
LLama August 26, 2012 at 06:56 PM
The political forum is legalized crime. None of what we are told is to be trusted. Remember profitability dictates.
Love This City August 26, 2012 at 09:05 PM
I will be honest, I didn't read the article or anything past the first paragraph. What a joke MOODY's has become. As a rating agency this is a joke. Long Beach is 1 level above Junk Bond Status and Town of Hempstead is stellar? They must be smoking some great stuff at Moody's these days. After all they rated most mortgage back securities as AAA and we all know how great those turned out... I can almost guarantee this exact time next year TOH will be downgraded with a long list of reasons why and everyone will ask why did you give such a great rating last year....
paul August 28, 2012 at 03:17 AM
I was watching WABC 7 News and guess who I saw, Kate Murray in Tampa at the Republican convention. Did we pay for that trip?

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