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From Congress to convicted Former representative George Santos pleads guilty By WILL SHEELINE wsheeline@liherald.com
Tim Baker/Herald
Former congressman George Santos apologized to the people of the 3rd Congressional District after pleading guilty to aggravated identity theft and wire fraud on Aug. 19.
Former Congressman George Santos pleaded guilty on Monday in federal court to charges stemming from a superseding indictment, nearly closing the year-long legal saga. He pleaded guilty to aggravated identity theft and wire fraud. All other charges, including making false statements and engaging in unlawful monetary transactions, were dropped. Throughout the hearing, the former congressman was subdued and quiet, his voice cracking with emotion even when simply saying “Yes, Your Honor.” Santos will be sentenced on Feb. 7. He faces up to 22 years in prison and will have to pay a maximum of $373,000 in restitution. Judge Joanna Seybert indicated that he will likely be sentenced to serve CONTINUED ON PAGE 9
Long Island school districts grapple with reserve cap By WILL SHEELINE wsheeline@liherald.com
School districts across Nassau County, including those on the North Shore, are grappling with state-imposed restrictions on cash reserves, even as they strive to balance fiscal responsibility with the need for emergency funds. The issue has gained attention following a state report highlighting 19 Long Island districts that have accumulated cash reserves exceeding the legal limit of 4 percent of their budgets. Among the districts named were Brentwood, Freeport, and
Lawrence, which re por ted reserves as high as 15.5 percent of their budgets. These districts face increasing scrutiny from Albany. However, others, like North Shore, Glen Cove, Locust Valley, and Oyster BayEast Norwich Central School Districts, have managed to stay below the 4 percent cap. Under state law, school districts are limited to holding no more than 4 percent of their annual spending in unrestricted reserves, commonly referred to as rainy day funds. These reserves provide a financial cushion for unexpected economic downturns or emergencies. Many district leaders
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s budgets get tighter, it’s harder to fund these reserves because we don’t have excess funds to put in them as much. CHRIS ZUBLIONIS superintendent, North Shore School District argue, however, that the 4 percent limit is outdated and insufficient, particularly in the face of rising costs and unpredictable financial challenges.
The North Shore Central School District reported its unrestricted reserves just below the cap, at 3.99 percent of its $120 million budget, while the Oyster Bay-East Norwich and Glen Cove Central School Districts reported those reserves at exactly 4 percent. Chris Zublionis, superintendent of North Shore, explained
the broader system of reserve funds, noting that the 4 percent cap applies specifically to unassigned fund balances. “There are other reserve funds separate from the unassigned fund balance, like a capital reserve, teachers’ retirement reserve, and employees’ retirement reserve,” Zublionis CONTINUED ON PAGE 11