NIFA Board Not Happy With Nassau County’s Finances

UNIONDALE, NY (WCBS 880) — A state watchdog group overseeing Nassau County’s finances is not happy about the county’s budget proposal.

Back and forth arguments over Nassau County’s finances are going on in Uniondale where there was a meeting of the NIFA board, or the group that oversees finances.

LISTEN: WCBS 880’s Sophia Hall reports  

Board members rejected the budget proposals submitted by the county because they said it does not close the budget gap.

“April, May and June, they did nothing with their financial planning,” said chairman Robert Stack.

County workers say they laid off employees to help balance the budget and even though the county executive said there would be no property tax hike if the Coliseum project is approved, Stack says that’s not the case.

“It is going to be financed with a 3.5 to 4 percent property tax increase,” he said. “This property tax increase will last 30 years.”

What do you think? Sound off below in our comments section…

More from Sophia Hall
  • Pat Mann

    We are in a financial crisis and Mangano wants to float a 400 million dollar bond
    that will cost 800 million by the time it’s paid off. But don’t worry , we’ll be getting 14 million a year for 30 years the county executive says. That’s still only 420 million.
    Guess where the other 380 million is going to come from, that’s right ,the taxpayer.
    Besides that the Islanders suck. If they had a winning,as in the past, they wouldn’t
    need a new building to attract fans, just look at the Mets,new stadium,same results.

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