UNIONDALE - The board of the state watchdog agency NIFA says for the second year in a row, Nassau County's proposed budget is not balanced.

According to NIFA, as it stands now, Nassau is expected to end next year with a deficit of nearly $300 million.

"If you spend more than you take in, you have a deficit," says NIFA Chairman Ronald Stack. "This isn't about accounting, this is about common sense."

Like last year, NIFA says County Executive Ed Mangano (R-Nassau) is relying on money that's just not there, such as savings from worker layoffs, labor concessions that will likely be challenged in court and red light cameras that have yet to receive approval from the state Legislature.

NIFA took control of the county's finances last year because Nassau's deficit exceeded 1 percent. The agency's board of directors says if Mangano and the Legislature don't make major changes to the 2012 budget, NIFA could be holding the county's purse strings for awhile.

The county Legislature has to adopt a budget by the end of the month. Questions arise over vote for new Coliseum