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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 City Manager
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Donna M. Gayden

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Donna M. GaydenCity 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 expand with content and become a critical resource for those who seek to have the fullest perspective on the City’s current and projected financial position. 

More than one year ago (February 28) I was hired to lead the City on a path to fiscal stability. Over many years, Long Beach consistently spent more than its total annual revenue, using rainy day funds and borrowing to make up for the shortfalls. These operational deficits have severely impacted the City’s independent financial rating, which now is ‘negative,’ and this further drives up our borrowing costs. Furthermore, our long-term debt total is staggering, which has exacerbated budget difficulties and made it extremely difficult to find our way out of these deep waters. 

Just as the City did not get into this condition overnight, we will not be able to get out of it overnight. Achieving fiscal solvency and rebuilding a General Fund Balance surplus will be a multi-year process. We will continue with efforts to enhance our resiliency, improve our infrastructure and increase our general quality of life, but the overarching priority over the next several years will be doing so while also streamlining and re-imagining how the City provides these services. Getting the City back on sound financial pathway will allow us to make the investments our community needs and deserves… because Long Beach is ready for a new way and a new day. 

Donna M. Gayden

Fiscal Health Indicators

As of June 30, 2020, the fund balance in the General Fund was $1.9 million. The General Fund included a negative unassigned balance of ($5,306,434) on this date.  For additional summaries of key financial information, please click the below button.

CLICK HERE

Over the period 2017 to 2021, the full valuation of real propery in the City increased by approximately 30.4% from $5.0 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 2019 population of the City was estimated at 33,507, which represets an increase of approximately 1.2% since the 2010. For 2019, the per capita income of City residents was $53,579 and the median value of all owner-occupied homes was $508,800.  For additional summaries of economic and demographic information, please click the below button.

CLICK HERE

As of August 31, 2021, the (bondable) debt limit of the City was $394,216,299.  At this same date, the net bonded indebtedness of the City was $127,046,000. 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 Dates

9

Sept.

Meeting

City Council

21

Sept.

Meeting

City Council

23

Sept.

Meeting

Zoning Board

Key Planning Team Contacts

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City Manager Contact Information
Muni: City of Long Beach, NY
Name: Donna M. Gayden
Title: City Manager
Address:

1 West Chester St.

Long Beach, NY 11561

Phone: 516.431.1001
Email: [email protected]
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: [email protected]
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: [email protected]
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: [email protected]

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.