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

McDonald, Michael
May 2003
Bond Buyer;5/1/2003, Vol. 344 Issue 31626, p3
Trade Publication
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.


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