NIFA votes Unanimously to take over Nassau County finances

[Smash255]

Things are getting quite interesting around here.  After the debacle of the Gullotta era, George Pataki set up NIFA (Nassau Interim Financial Authority) to look over the finances of Nassau County in 2000 and take over if the budget is more than 1% out of balance.  

NIFA is stating they believe the budget is 1% out of balance and are threating to take over the county's finances unless County Executive Ed Mangao can prove otherwise by Jan 20th.  Mangano and Presiding Officer Republican Peter Schmitt have stated the budget is balanced and have said they will take NIFA to court if they take over.

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NIFA is also giving Mangano a deadline to prove the budget is balanced.

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NIFA letter to Mangano
http://longisland.newsday.com/data/pdfs/NIFA%20letter%20to%20Mangano.pdf



title updated

[Southern Senator North Carolina Yankee]

Take it over then abolish the damn thing.

[Smash255]

Take it over then abolish the damn thing.

Abolish Mangano and Schmitt?   sure thing...

[Southern Senator North Carolina Yankee]

Take it over then abolish the damn thing.

Abolish Mangano and Schmitt?   sure thing...

I meant abolish the whole county gov't or significantly restructure it. Anything is better then the current setup.

[Sam Spade]

Yes, Nassau County is a sh!thole.  All of its civil servants should be fired without pensions in the future.  This is not news.

[Smash255]

The Nassau Interim Finance Authority (NIFA) which was set up by Pataki in 2000 to watch over the county's finances in the wake of the late 90's budget problems, just voted unanimously to take over the finances of the county.   County Executive Republican Ed Mangano and Presiding Officer, Republican Peter Schmitt have said the budget is balanced and have previously threatened to sue if NIFA took over.    NIFA simply did not believe that the budget was balanced and felt that the budget had a deficit of 1% or was in imminent danger of doing so (the 1% threshold was one of the requirements put forth by Pataki when he set it up).  It remains to be seen if Mangano and Schmitt will sue.



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[Bleeding heart conservative, HTMLdon]

Can't we get someone to take over Federal government finances if it is more than 1% out of balance?

[Progressive]

What else can I do but LOL. Mangano wasn't meant to be County Executive and has done a terrible job. He will lose in a major landslide in 2013.

[Brittain33]

What else can I do but LOL. Mangano wasn't meant to be County Executive and has done a terrible job. He will lose in a major landslide in 2013.

Here's an interesting article about how the easy part was signing the tax repeal, but Mangano never seriously considered how he could also reduce spending or keep his other campaign promises. He penciled in $61 million in union concessions but didn't actually try to follow through, nor were unions keen to make cuts right after the tax cuts were made. There's nothing tough on campaigning for tax cuts if you aren't going to do anything else... it's not like Suozzi loved telling people he was raising taxes.

http://news.yahoo.com/s/nm/20110127/ts_nm/us_taxes_nassau_teaparty

[Smash255]

What else can I do but LOL. Mangano wasn't meant to be County Executive and has done a terrible job. He will lose in a major landslide in 2013.

Agreed.  Now the important thing is getting back the legislature so we can get Peter Schmitt the living hell out of the Presiding Officer slot.