NIFA takes over Nassau County's finances

UNIONDALE - A state financial watchdog voted unanimously today to take control of Nassau County's finances. Ronald Stack, chairman of the Nassau Interim Finance Authority (NIFA), says after months of review, he still does not believe County Executive Ed Mangano's (R-Nassau) 2011 budget is balanced.The county has until mid-February to once again revise its budget. Meanwhile, NIFA can approve or deny Nassau's short-term borrowing for operating expenses. The board, however, stopped short of declaring a financial emergency, which would have given it the power to freeze wages for thousands of county workers. Union leaders say they're concerned about possible layoffs and service cuts. Nassau County Attorney John Ciampoli says they're considering legal action against NIFA."In light of the fact that we have a budget that was proposed by the county executive, approved by the Legislature, and certified by the comptroller as balanced, I find it astonishing that someone would sit here in January, long before the books have closed, and say the budget is out of balance," he says.

Nassau County keeps control of its budget

Share on Facebook Tweet on Twitter

advertisement | advertise on News 12

Top 5 Must See

Police responded to a robbery at the 7-Eleven 1 Police: Shirley knifepoint robbery not linked to pattern
Suffolk Police say a Wantagh man inappropriately touched 2 Police: Camp counselor arrested for sexually abusing minors
The part-time Amagansett resident just announced his 'One 3 Paul McCartney announces tour stop at new Coliseum
Augusto Cortez was arrested at John F. Kennedy 4 Former priest pleads not guilty to sexually abusing Hampton Bays child
Jericho High School was ranked the highest on 5 U.S. News and World Report names 7 LI schools best in the nation

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.