In Nassau County, N.Y., Comptroller George Maragos released the audited comprehensive annual financial report for fiscal 2011, which confirms the county's budget deficit of $50.4 million.

"The deficit in 2011 was avoidable and is primarily the result of [the Nassau County Interim Finance Authority] and the legislative minority failing to work with the administration to approve $43.1 million in bonding for property tax refunds," Maragos said.

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