Moody’s Investors Service has revised its outlook on Suffolk County finances from stable to negative in light of ongoing use of short-term borrowing and one-shot revenues to deal with cash flow problems a structural deficit.

Moody’s analysts said the county could improve its financial position by significantly reducing short- term cash borrowings, and putting forward a structurally balanced budget, including making full payments on its pension obligations.

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They also warned that the county may face downgrading of its debt if it fails to take actions including reducing short-term borrowing.

Suffolk has an A3 rating on its long term general obligation bonds and has $1.49 billion in outstanding debt. It also has a Baa 3 rating for its $66.9 million in bonds for the sale-leaseback of the H. Lee Dennison Building in Hauppauge.

Suffolk ended last year with sales tax revenues that were $30 million less than expected. The county is on course to spend $100 million a year more than it takes in for the next several years.

Since 2011, Suffolk has borrowed $317 million to pay annual pension costs and is using $30 million a year from a sewer reserve fund to help pay operating costs. It has borrowed $70 million on the Dennison Building, and must pay back $4.8 million annually over 20 years.

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Officials in the office of Suffolk County Executive Steve Bellone and county Comptroller John M. Kennedy Jr. did not immediately return calls for comment Wednesday night.