Long Beach, Long Island, Facing A Fiscal Emergency

The Boardwalk on Long Beach, Long Island

Long Beach is a beautiful waterside village on Long Island which sports a lot of expensive homes and restaurants. If they are suffering a dire fiscal emergency, Long Islanders better start worrying.

The city manager and City Council in Long Beach are expected to pass a resolution declaring a fiscal emergency on Tuesday night to give City Manager Jack Schnirman more authority to tighten and veto spending.

Long Beach owes $48.3 million in general obligation debt.

Last month, the city was downgraded five investment rating levels by Moody’s Investors Services.

Read more: Newsday