(L to R) Art Gianelli, Tom Suozzi, and Mike Zapson.

Mineola, N.Y.- Nassau County Executive Thomas R. Suozzi, joined today by his budget team, revealed that their intensive 30 day analysis of the County's budget discovered a deficit for the 2002 fiscal year of over $20 million. The previous administration's multi-year plan projected a $208 million deficit for the year 2005; Suozzi's analysis shows the gap widening to $428 million - a difference of $220 million.

Arthur Gianelli, Deputy County Executive for Budget and Finance, Budget Director Craig W. Love and their Budget Team conducted an intensive review of the 2002 budget. As part of this process, they met with each county department, reviewed their initiatives and operations to determine their baseline spending and revenues. Their investigation revealed necessary adjustments to certain revenues and expenses. "It's worse than we thought. Nassau County is faced with an operating deficit of more than $20 Million," said County Executive Suozzi. "Furthermore, we have concluded that with a new analysis including salary costs, sales tax, Medicaid and tax certiorari expenses, we are facing a $428 Million deficit in 2005."

As confirmed by the Maxwell School of Public Policy at Syracuse University, business as usual in Nassau County is failing. Out of the 40 largest counties nationwide, Nassau came in dead last, earning an F for financial management and a D- grade overall.

"Now that we know what's wrong, we can begin preparing the solution," stated County Executive Suozzi. "Our four year plan will focus on ten key areas: Tax Certiorari, Labor Contracts, Outsourcing/Contracting, Business Process Re-engineering, Real Estate, Debt, Revenue Initiatives, Federal/State Assistance, Other County Entities and Towns and Villages.