Financial watchdog NIFA won't sign off on Nassau County budget without changes
The county's financial watchdog group declined to approve the county's budget, giving the legislature two weeks to make revisions.
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Nassau County's proposed budget calls for no tax hikes, and uses its surplus for future expenses.
NIFA, the county's financial watchdog, says Nassau needs to save its surplus to navigate uncertain economic times ahead. It claims the accounting approach violates the county charter and NIFA statute.
NIFA Chairman Richard Kessel tells News 12 in a statement, "We would rather have not needed to take this action, but it is essential that Nassau County come into compliance with the county charter and NIFA's statute. We are requesting that the County make the necessary changes as they submit their budget and multi-year plan. The NIFA Board's actions at last night's meeting were reflective of our mission to protect the best interest of Nassau County's taxpayers, and we urge the County to do right by their residents and make the appropriate changes."
Meanwhile, Nassau County Presiding Officer Howard Kopel says in a statement, "“Over the last several years, Nassau County has successfully built strong financial reserves, earned multiple bond rating upgrades, and maintained fiscal discipline — all without raising taxes. The County has demonstrated prudent fiscal responsibility, while NIFA has failed to keep pace with these positive developments, wrongly projecting millions in deficits for years. This disparity raises serious questions about NIFA’s capacity to provide effective oversight and its ability to fulfill its primary responsibility of safeguarding taxpayer resources.”
Minority Leader Delia DeRiggi-Whitton is calling for a special session of the county Legislature to discuss the budget. It has until Dec. 10 to make the revisions, or NIFA can reject the budget entirely when it meets on Dec. 19.
