Board votes to take over Nassau's finances
Quick ReadNassau is only the second county in the state to be taken over by a control board.
Photo credit: Howard Schnapp | A file photo of the NIFA board. (Dec. 30, 2010)
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NIFA letter to Mangano (PDF, 425 KB)
A state oversight board voted unanimously Wednesday to take immediate control of Nassau's finances, contending the county's 2011 budget contains a $176 million deficit - more than seven times the 1 percent gap that triggers a takeover under state law.
The Nassau Interim Finance Authority gave County Executive Edward Mangano a Feb. 15 deadline to come up with a financial plan that eliminated...
