Cuts Include 500+ Positions, 13 Day Furlough & Wage Freeze
New York, NY – March 24, 2011 – (RealEstateRama) — Nassau County Executive Edward P. Mangano today submitted a revised financial plan for Fiscal Year 2011 that protect homeowners and employers from a 21.5% property tax increase. The plan includes reductions through layoffs, the elimination of vacant positions, furloughs and by freezing wages and longevity pay.
“Since the last thing Nassau families need in these tough economic times is a double-digit property tax increase, I have cut government spending,” said County Executive Mangano. “This first round of cuts will affect every area of the County and the services we provide.”
County Executive Mangano’s revised financial plan contains $181.9 million in solutions, including:
* $60.5 million in employee-related spending reductions, including: $50 million in savings from 213 layoffs, elimination of 307 vacant positions, implementation of a 13 day furlough for County personnel and the reduction of seasonal and part-time employees; and $10.5 million in savings by calling on NIFA to freeze employee wages and longevity pay.
* $44.7 million in across the board budget cuts, including: $17.7 million from the reduction of contractual expenses; $15 million from the restructuring of the police department, including the redeployment of 142 sworn officers and as many as 41 civilian posts to optimize the force and alleviate overtime requirements; $4.5 million from ending the County’s relationship with the MTA to run Long Island Bus service; $4.5 million from the privatization of inmate healthcare; and $3 million from the reduction of overtime at the Nassau County Correctional Center.
* $30 million in lower tax refund liability expenses than projected by NIFA, due in large part by County Executive Mangano’s assessment settlement process.
* $24 million in revenue generated from measures contained in the 2011 Budget.
* $8.8 million in revenue from the land sales and securitization of property.
* $8 million in savings from debt service restructuring.
* $5.9 million in higher sales tax revenue due to an upswing in collections.
“Our union leaders still have time to offer voluntary concessions that save their colleagues jobs,” said County Executive Ed Mangano. “The severity of these actions could be lessened if concessions are offered and an agreement is reached with our unions.”
County Executive Mangano noted that $133 million in additional budget contingencies exist for 2011, including:
* $5 million in revenue from a Long Island Expressway/Sunrise Highway ticket surcharge;
* $10.5 million from reserve funds;
* $35.3 million from cash on hand for the payment of tax certiorari settlements;
* $17.2 million from the 2010 budget surplus; and
* $65 million from the County’s fund balance.
