Lawmaker calls for Town of Oyster Bay fiscal monitor

This spring, Standard and Poors downgraded the Town's status to "junk."

This spring, Standard and Poors downgraded the Town's status to

This spring, Standard and Poors downgraded the Town's status to "junk." (7/8/16)

OYSTER BAY - News 12 Long Island has learned there are calls for a fiscal monitor for the Town of Oyster Bay. 

State Assemblyman Charles Lavine is proposing a bill to bring in a state monitor to oversee the town's finances for five years. 

Oyster Bay Town Supervisor John Venditto is against the move, saying he takes responsibility, and is working on a plan to fix the issues.

This spring, Standard and Poors dropped the Town's status to "junk."

The proposed legislation says the monitor would be paid for by Oyster Bay taxpayers.

There is no word on when the bill could start moving through Albany. 

advertisement | advertise on News 12

Top 5 Must See

Community activists in Brentwood are supporting a proposed 1 Sen. Croci proposes crackdown on gang violence
2 SBU lax player on pace to break NCAA scoring record
3 Scholar Athlete: Lissette Palomo
The LGBT Network hosted a conference on bullying 4 LGBT Network hosts anti-bullying conference at SBU
Police say the 10-car crash happened on Route 5 9 injured in multi-vehicle crash in North Amityville

advertisement | advertise on News 12

More News

The Oyster Bay supervisor says he wants to State lawmaker wants monitor for Oyster Bay finances

The Oyster Bay supervisor says he wants to lead the charge to repair the town's

Standard and Poor's handed Oyster Bay the downgrade Oyster Bay Town credit rating downgraded to junk bond status

Standard and Poor’s handed Oyster Bay the downgrade yesterday, blaming weak management, weak budgetary planning

Sorry to interrupt...

Your first 5 are free

Access to News12 is free for Optimum, Comcast®, Time Warner® and Service Electric℠ video customers.

Please enjoy 5 complimentary views to articles, photos, and videos during the next 30 days.

LOGIN SUBSCRIBE