A New York State fiscal monitoring board will consider for the first time in its 17-year history imposing spending cuts to Nassau County’s budget.
The Nassau Interim Finance Authority has a meeting scheduled for Dec. 7 to discuss forcing changes to the county’s budget because of concerns about revenue assumptions and other expenditure savings included in the spending proposal. The Republican-controlled Nassau County legislature sent a letter to NIFA on Monday proposing $31.5 million in cuts and revenue enhancements to help balance next year’s $2.99 billion budget.
“NIFA is currently reviewing the proposal from the legislature to determine which items are acceptable—or not,” the agency’s spokesman David Chauvin said in a statement. “The NIFA Board will then determine how the difference will be made up by additional cuts.”
NIFA previously voiced
“NIFA has disallowed over $60M in contingent revenue sources that we proposed and that municipalities around the state routinely use to balance their budgets, creating a budget crisis that does not exist in reality, but allows NIFA to unfairly continue its control of county finances,” Nassau County Legislative Presiding Officer Norma Gonsalves, R-East Meadow, said in a statement.
Gonsalves didn't seek re-election and will end her tenure as a county lawmaker at the end of the year.
NIFA has
Nassau County is located on Long Island around 15 miles east of Manhattan and has a population of roughly 1.3 million. The large suburban county has bond ratings of A2 by Moody’s Investors Service and A-plus by S&P Global Ratings.