The Nassau Interim Finance Authority brought in a veteran New York City finance official to help the Long Island county iron out an acceptable 2016 budget plan.
The fiscal control board on Nov. 19 approved the hiring of Mark Page, who was budget director under former New York City Mayor Michael Bloomberg, as a consultant. Page, who was also a director of New York City's Office of Management and Budget, will work with NIFA after the authority rejected the county's $2.95 billion budget proposal. The seven-member NIFA board, which took control of Nassau's finances in early 2011, said the spending plan relies too much on $81.3 million in anticipated revenues.
"We thought we'd bring in a little extra firepower," said NIFA Chairman Jon Kaiman of the Page hire. "The goal is to use his experience and expertise in the coming weeks."
Page, who first joined the OMB in 1978 as deputy counsel, was an executive director of the New York City Municipal Water Authority from 1984 to 2002. He also held an executive director post with the New York City Transitional Finance Authority from 1997 to 2006.
Nassau County has until Nov. 30 to come up with a modified budget plan. Nassau County Executive Ed Mangano met with legislative leaders about the NIFA rejection on Nov. 20 with more talks scheduled this week. The legislature overrode a veto from Mangano that attempted to restore a 1.2% property tax hike he originally proposed.
NIFA warned in an Oct. 16 letter that it would step in and impose a hiring freeze along with other cuts if changes were not made to the 2016 budget proposal, saying it would contain a $50 million hole and was based on questionable projections.
Kaiman said Page will also help Nassau plan future revenue projections that can improve the county's financial footing in the coming years. The county just east of New York City is rated A2 by Moody's Investors Service.
