TITLE

Delayed State School-Aid Payments Has Some New York Districts Worried

AUTHOR(S)
McDonald, Michael
PUB. DATE
May 2003
SOURCE
Bond Buyer;5/1/2003, Vol. 344 Issue 31626, p3
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
New York has delayed making 1.6 billion dollars in local education aid payments due on May1, 2003 raising concerns about the finances of some cash-strapped communities in the state. The delay comes as the Legislature has, in defiance of Governor George E. Pataki, drafteda fiscal 2004 appropriation bill that would raise taxes and enable 4.2 billion dollars in deficit borrowing. If the budget delay between the governor and Legislature persists, the state could be forced to delay the next local aid payment due at the end of June 2003.
ACCESSION #
9810669

 

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