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Is Chautauqua County next?
April 27, 2011 - John D'Agostino
Chautauqua County has been and will continue to face financial troubles — currently about an $18 million to $20 million budget gap for 2012.
It is nowhere near the massive deficit faced by Nassau County near New York City. The wealthy county, which is currently under the control of the Nassau County Interim Finance Committee, has gone broke.
According to an article April 14 in Bloomberg Businessweek, the finance committee is made up of six people — all with day jobs, but none of whom are politicians. The panel has instituted a wage freeze due to a "fiscal emergency" that has been declared due to a budget gap that has reached $176 million.
George J. Marlin, a member of the Finance Committee and chairman of Philadelphia Trust, a private bank, told the business publication: "2011 is bad. 2012 will be even worse."
A link to the complete article can be found at right.
Hopefully, Chautauqua County leaders can learn from downstate’s woes even if they are too stubborn to learn from their own.
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