April 19, 2012

Comptroller’s Office Finds and Helps Collect $56K Owed by NYC

Nassau County Comptroller George Maragos released his audit of Nassau County’s Belmont Park Racetrack Admission Tax revenue and found that the County was owed $60,653 by the City of New York from racing tax receipts during 2008-2009. A follow up inquiry by the Comptroller’s office resulted in the County receiving payments of $56,005 from the NYC Department of Finance.

"The County is leaving no stone unturned to find and collect money owed,” Comptroller Maragos said. “The old lax collection practices are unacceptable. Collecting all of the revenue the County is owed is crucial to holding the line on property taxes.”

The audit also found that the NYC Finance Department did not always send the County its share of admission tax receipts within the 60 day statutory requirement. There were several instances where the County received the funds months after the 60 day deadline. The Treasurer’s Office, responsible for accounting for these funds, also did not follow-up with the NYC Finance Department to collect past due amounts when the 60 day deadline had elapsed.

The Audit also made the following recommendations to the Treasurer’s Office to ensure that the County receives its tax share in a timely manner:

 

• Take action to collect the past due amount of $4,648 still outstanding for 2009, review for other short payments and follow up on future remittances approaching 60 days past due;

• Formally request that the NYC Finance Department provide the complete Tax Return, which is signed, dated and notarized, with each remittance.

We are pleased the Treasurer’s Office has accepted our recommendations and is implementing necessary changes in procedures to ensure every appropriate tax dollar is collected on behalf of the County taxpayers.

Limited Review of Nassau County's Belmont Park Racetrack Admission Tax Revenue