City of Long Beach, New York

Strategic Fiscal Improvement Dashboard

Demonstrating Our City’s Commitment to:

  • Fiscal Improvement
  • Accountability
  • Credit Enhancement
  • Transparency
  • Sustainability
Welcome Message
From the Acting City Manager
Daniel Creighton

Daniel Creighton

City Manager

Daniel CreightonCity Manager

Welcome to the Strategic Fiscal Improvement Dashboard for the City of Long Beach, New York.

This resource has been created to provide the residents of Long Beach and credit rating agencies with an in-depth perspective of the City’s financial operations. It includes a host of important financial information: budgets, audits, financial ratings from independent agencies, policies, status reports and more. This dashboard will continue to be updated and expanded so as to serve as a critical resource for those seeking the fullest perspective on the City’s current and projected financial position.

Since its launch in 2021, the City has made significant progress on its path to improved fiscal health. Operational deficits that required significant borrowing have been eliminated. Fund surplus (essentially, funds with no designated purpose) has improved dramatically, which is a strong indicator of liquidity and fiscal health. Significant legal liabilities were resolved. These and many other operational corrective actions, policy revisions, and expanded revenue streams have resulted in an improvement in the City’s credit rating and a drastic decline (as identified by the NYS Comptroller) in susceptibility to fiscal stress.
As Acting City Manager, I will work with our strong team of committed professionals to continue the transition from a financially challenged community to one that is thriving. I am confident that, with our leadership team, Long Beach will realize its full potential and become a place all our residents will proudly call home.

Daniel Creighton

Fiscal Health Indicators

As of June 30, 2021, the fund balance in the General Fund was $5.7 million. The General Fund included an unassigned balance of $3.9 million on this date.  For additional summaries of key financial information, please click the below button.

CLICK HERE

Over the period 2018 to 2022, the full valuation of real propery in the City increased by approximately 26.2% from $5.2 billion to $6.5 billion. Over the same period of time, the average tax collection rate was 99.5%.  For additional summaries of key real property tax information, please click the below button.

CLICK HERE

According to data obtained from the U.S. Census Bureau, the 2020 population of the City was estimated at 33,029, which represets an increase of approximately 5.7% since the 2010. For 2020, the per capita income of City residents was $57,473 and the median value of all owner-occupied homes was $555,900.  For additional summaries of economic and demographic information, please click the below button.

CLICK HERE

As of June 21, 2022, the (bondable) debt limit of the City was $416,081,574.  At this same date, the net bonded indebtedness of the City was $107,542,075. For additional summaries of debt related information, please click the below button.

CLICK HERE

Budget Status Reports

In an effort to better inform the Council, City employees and the public about current fiscal conditions, together with the City Comptroller, the City Manager’s office has established a Budget Status Report that will be published on a recurring basis. Please click the above tabs. The information is unaudited, should be considered preliminary and remains subject to change and adjustment, as necessary.

Definitions & Acronyms
Municipal Finance Definitions
Municipal Finance Acronyms

Key Planning Team Contacts

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City Manager Contact Information
Muni: City of Long Beach, NY
Name: Ronald J. Walsh
Title: Acting City Manager
Address:

1 West Chester St.

Long Beach, NY 11561

Phone: 516.431.1001
Email: citymanager@longbeachny.gov
City Comptroller Contact Information
Muni: City of Long Beach, NY
Name: Inna Reznik
Title: City Comptroller
Address:

1 West Chester St.

Long Beach, NY 11561

Phone: 516.705.7223
Email: ireznik@longbeachny.gov
Strategic Advisor Contact Information
Firm: Capital Markets Advisors
Name: Margaret Guarino
Title: Managing Director
Address:

11 Grace Ave., Suite 308

Great Neck, NY 11021

Phone: 516.364.6363
Email: mguarino@capmark.org
Municipal Advisor Contact Information
Firm: Capital Markets Advisors
Name: Tom Vouzakis
Title: Assistant Vice President
Address:

11 Grace Ave., Suite 308

Great Neck, NY 11021

Phone: 516.487.9818
Fax: 516.487.2575
Email: tvouzakis@capmark.org

Disclaimer: In preparing this site, Local Goverenment Solutions, LLC (“LGS”) has relied upon City officials, and other sources, who have access to relevant data to provide accurate information.  LGS has not been engaged, nor has it undertaken, to independently verify the accuracy of such information. LGS is not a public accounting firm and has not been engaged by the City to compile, review, examine or audit any information on this site. The information of this site should be considered unaudited, preliminary and remains subject to change and adjustment, as necessary. Furthermore, the information provided on this site does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of municipal securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Offers to purchase securities may be made only through a registered broker-dealer and through an official statement.