NIFA set to decide on takeover of Nassau's finances

WOODBURY - The Nassau Interim Finance Authority (NIFA) is expected to decide whether to take over Nassau's finances if it rules that the county's budget is not balanced.

County Executive Ed Mangano (R-Nassau) had until today to prove he could balance the books. He insists that his 2011 budget is sound and actually has a small surplus.

Mangano says he's spent the last year slashing budgets, reducing staff and creating efficiencies to make sure the county is fiscally stable and avoid a NIFA takeover.

Critics, however, have called some of Mangano's budget cuts unrealistic.

If Nassau County does end up losing control of its finances, it would be forced to halt the short-term borrowing it uses to pay day-to-day bills. In addition, union workers' wages would be frozen and there could be social-service reductions.

If the takeover is approved, it is expected that NIFA would be hit with a slew of lawsuits challenging its decision.

Nassau County keeps control of its budget

NIFA deciding fate of Nassau's budget Exec. Mangano unveils more cuts in 2011 Nassau budget

Share on Facebook Tweet on Twitter

advertisement | advertise on News 12

Top 5 Must See

The crash occurred at the corner of College 1 Motorcycle, SUV collide in Selden
The blaze broke out at the Davidson Avenue 2 Firefighter injured while battling house fire in Lynbrook
United States Attorney General Jeff Sessions promised to 3 AG Sessions to MS-13 on LI: We are coming for you
Sen. Phil Boyle is pushing to make it 4 Sen. Boyle pushes to ban posting violent acts on social media
United States Attorney General Jeff Sessions was met 5 Protesters gather as AG Sessions speaks on LI gang violence

advertisement | advertise on News 12


Each week, News 12's Doug Geed explores the Check out fun things to do on the East End!

Explore the Twin Forks with News 12's Doug Geed.

Each week a different shelter visits News 12 Dog Day Fridays Series

Each week a different shelter visits News 12 Long Island with pets up for adoption.

News 12 digs deep to find Long Island's Discover Long Island's Hidden Past

News 12's Danielle Campbell digs into Long Island's roots.

News 12's Lily Stolzberg sees how much Long On The Spot

News 12's Lily Stolzberg sees how much Long Islanders know about everything and anything.

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.