MINEOLA, NY (WCBS 880) – A whopping $53 million budget shortfall is predicted by Nassau County Comptroller George Maragos if nothing is done by the end of this year.
WCBS 880’s Sophia Hall With The Comptroller
Nassau County is already in a money mess.
Earlier this year, the county’s finances were taken over by state watchdog group Nassau Interim Finance Authority.
Maragos said to balance the budget, early retirements, layoffs, department cuts, and pay furloughs must be implemented.
Maragos said there could have been an $8 million surplus, but NIFA would not allow the county to borrow to pay for tax refunds.
He does say that NIFA has helped the county financially, noting “the allowance of wage freezes and that resulted in a benefit of $9.7 million.”