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Suffolk County Fiscal Analysis Task Force Report Presented to the Suffolk County Legislature 3-6-2012

Suffolk County Fiscal Analysis Task Force Report Presented to the Suffolk County Legislature 3-6-2012

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Published by: Long Island Business News on Mar 06, 2012
Copyright:Attribution Non-commercial

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03/06/2012

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S
UFFOLK
C
OUNTY
F
ISCAL
A
NALYSIS
T
ASK
F
ORCE
 
INAL
R
EPORT 
 
 P 
 RESENTED
 
TO
 
S
UFFOLK 
C
OUNTY 
E
XECUTIVE
S
TEVE
B
ELLONE
 
 P 
 REPARED
 
 FOR
 
T
HE
S
UFFOLK 
C
OUNTY 
L
EGISLATURE
S
B
UDGET
& F
INANCE
C
OMMITTEE
 
 M 
 ARCH 
6, 2012
 
T
ASK
F
ORCE
M
EMBERS
 
The seven-member Task Force is comprised of thefollowing independent individuals:
Richard Halverson ~
 Former Assistant Deputy Director NYC Financial Control Board, Deputy Comptroller for Budget 
  Hampton Bays
Stuart Klein ~
 Former First Deputy Director NYC’s Office of Budget & 
 Management 
  Rockville Centre
Nathan Leventhal ~
 Director, Dreyfus Mutual Funds & Former Deputy Mayor NYC -Westhampton
Edward W. Moneypenny ~
 Former Chief Financial Officer at 7-Eleven, Inc. and at Two Former Fortune 500 Companies -Village of  Southampton
Steven Newman ~
Chief Operating Officer Public Health Solutions, Former First Deputy NYC Comptroller
  Douglaston
Michael Solomon ~
 Managing Director, Ramirez & Co.
 Originally fromOceanside
Charles K. Stein ~
 Former Deputy County Executive for Finance, SuffolkCounty -Coram
 
2
 
D
EFICIT
P
ROJECTIONS
 
 Y 
EAR 
 C
OUNTY 
C
ONSENSUS
 F
ORECAST
D
EFICIT
 F
ISCAL
NALYSIS
T
 ASK 
 F
ORCE
P
ROJECTED
D
EFICIT
 E
STIMATES
 D
IFFERENCE
 F
ISCAL
NALYSIS
T
 ASK 
 F
ORCE
 
 M 
 INUS 
 C
ONSENSUS
F
ORECAST
 
2011 -($33) -($33) $02012 -($86) -($148) -($61)2013 -($286) -($349) -$(63)
TOTALS -($406) -($530) -$(124)
The Task Force’s deficit projections are larger than the general consensus of the size
of the shortfall of the County Executive Budget Office & Legislative Budget Review Office due to additional revenue shortfalls and expense increases that the Task Force believes could occur over the next two years.
 Deficit projections are summarized as follows, in Millions of Dollars:
 Note: Numbers in table may not total due to rounding
3

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