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Hudson Valley News
Thu August 9, 2012
NY State Considers Takeover of Newburgh Finances
The financial situations in the County of Rockland and City of Newburgh are in such precarious shape that Governor Andrew Cuomo and State Comptroller Thomas DiNapoli are considering proposals to create a super control board to take over their finances.
Such a board would review the finances of all counties, cities and towns on the verge of bankruptcy.
Newburgh Mayor Judy Kennedy said while her city has made significant strides in recent months to reduce its deficit and cut spending, there is still much more to be done.
“Whatever help the state can give this city, I want to cooperate, but we have made some quantum steps in the right direction that put this city back on a financial sound basis, but we still have a long way to go,” Kennedy said.
Any such proposal would require approval by the state legislature.