Adoption of Governor Cuomo’s FY2014-2015 Proposed Budget to Meet April 1, 2014 Deadline By HEZI ARIS

eHezi Governance 7 Comments

NYS Legislature

The Yonkers City School District Deficit Financing Act Update

Bonds: The city of Yonkers has been authorized to issue serial bonds, on or before March 31, 2015, in an aggregate principal amount not to exceed $45,000,000 for the specific object or purpose of liquidating current deficits in the school district general fund as of June 30, 2014.

Budget Review: During the effective period of this act, the mayor (Mike Spano), in direct consultation with the superintendent (Dr. Michael Yazurlo) and the board of Education (Yonkers Board of Education Board of Trustees), shall submit the proposed budget for the next succeeding fiscal year to the state comptroller (New York State Comptroller Thomas DiNapoli) and also to the commissioner of education (Commissioner John B. King) no later than thirty days before the date scheduled for then city council’s vote on the adoption of the final budget or the last date on which the budget may be finally adopted, whichever is sooner. The state comptroller and commissioner of education shall examine such proposed budget and make such recommendations as deemed appropriate thereon to the city prior to the adoption of the budget, but no later than ten days before the date scheduled for the city council’s vote on the adoption of the final budget or the last date on which the budget must be adopted, whichever is sooner. Such recommendations shall be made after examination into the estimates of revenues and expenditures of the city.

Notwithstanding any other provision of law, and in addition to the powers currently authorized to be exercised by the state of New York municipal bond bank agency, the state of New York municipal bond bank agency may provide, for purposes of municipal relief to the city of Yonkers to support public schools in the city, a sum not to exceed $28,000,000 for the city fiscal year ending June 30, 2015, to the city of Yonkers. Notwithstanding any other provision of law, and subject to the approval of the New York state director of the budget, the state of New York mortgage agency shall transfer to the state of New York municipal bond bank agency for distribution as municipal relief to the city of Yonkers, a total sum not to exceed $28,000,000, such transfer to be made from the special account of the mortgage insurance fund created pursuant to the public authorities law.

Inter Municipal Agreement: Yonkers city school district (Yonkers Public School District) enter into an inter-municipal agreement (IMA) that the New York state director of the budget determines would meet the requirements of section two of this act.

The inter-municipal agreement required by section one of this act shall include and provide for the following administrative controls and reforms, each of which is hereby authorized by this act, however, but shall not supersede the authorization of the superintendent and the board of education as provided for in the education law.

Pre-K: Full day Pre-K is funded by New York State for Yonkers.

Additionally, a New York State Fund will underwrite building and / or renovating the school infrastructure.

Executive Budget Aid and Incentives for Municipalities (AIM): $108,215,479.

The most pressing issue is does the state budget satisfy CoY Finance Commissioner John Liszewski’s financial prognostication of $120 million  shortfall on the Yonkers Board of Education and between $50 to $ 80 million shortfall more on the city side?

Lastly, how and from what account dis the Commissioner of Finance find the financial wherewithal to satisfy every vendor, teacher, custodian, etc., over the past two years with no funds ever being received by Yonkers? What is the name of that account? Who signs off on it? Who scrutinizes the account? In what bank branch was the bank account kept? Where is the final forensic accounting from Commissioner Liszewski and the Accounting firm represented by Nick DeSantis?

It seems despite Mayor Mike Spano’s dismissal of Yonkers Albany Delegation, they did indeed have a hand in brining about a better financial outcome for CoY. Thank you Senator Andrea Stewart-Cousins, Geoge Latimer, and Assemblymembers Gary Pretlow and Shelley Mayer.

eHeziAdoption of Governor Cuomo’s FY2014-2015 Proposed Budget to Meet April 1, 2014 Deadline By HEZI ARIS

Comments 7

  1. Spano sucks

    How come the be new IG Brendan Mc Grath isn’t demanding Criminal Charges. Oh yeah that’s right he is another appointed phoney. Over 100 million missing and the IG sees nothing wrong. What a joke.

  2. inside baseball

    The shame of it all is that the people who elected the Spano’s for years, regardless of rumors (and facts) of the patronage mill circus that came with them, continue to do so. There is little public interest in any of this except from the parents who send their kids to Yonkers schools.

    Nicky and Mike’s growing collusion with Albany’s powerhouse sans Yonkers delegation, should tell you that they don’t give a damn about anyone because they know they have the power to do anything they want. Think about that when you go vote for the reelection of the governor this Fall – does he really give a crap about Yonkers? Hell no. It’s all about what Yonkers is doing for him.

    And keep in mind that Yonkers Council Democrats are the weakest group of lambs to serve in a generation. It’s good to be a Republican in Yonkers these days…you can hide under the umbrella of the Yonkers Democratic Party (as they’ve taken that over), conspire with the city’s Republicans and embrace the council president as a good ol’ boy. How else could Liam get away with building new offices, hiring staff at the maximum payroll allowed and never showing up for work. Not a bad gig. Only in Yonkers. And for all those that say a control board or the Feds are coming, forget about it. Mike’s embarrassed the state comptroller enough with the sloppy BoE accounting errors – so much so that DiNapoli can’t do a thing save watch Yonkers bond its debt until eternity. And if all they had on Nick was enough to put him away for a year max, then he’s truly the King of Yonkers – and Cuomo knows it. Wouldn’t be engaging an ex-felon to throw a nice big bash for him if he had anything to worry about.

  3. CUOMO

    NYS has no problem with 300 million more in pre-k funding for DiBlasio’s fiaco….why not some more money for our Cannoli mayor. NOTHING ON THE LEVEL!!!! By the way, schools are the everything for those in need. Teachers are expected to teach, social work, and parent the kids that walk thru the doors. Oh, don’t forget new testing this year’s Commom Core disaster. NYC keeps schools open in blizzards “so kids get a hot meal” as quoted by new NYC chancellor!!! The nanny state every blossoms greater!

  4. threesidesto truth

    How do you like perazio now? He has flirted with failure of the city and walks away with no penalty. For the children, how many times do we have to hear this phrase fully knowing it is not “for the children”.
    Can the school board be held criminally of financially responsible for this mess?
    If I remember right, a group of citizens can sue the state for not properly funding the schools, but not the city itself. Now even if we did sue the state, they would throw the perazio circus right back at us in court.
    Unfortunate, but the state must intervene and the city must hold people accountable. I think if one does not happen, the other will not be forthcoming.
    We have bigger problems than boe vs. dept of edu. . It is called money problems, and obviously the boe method is not working. Cant even detect when appx. 8% of their budget is missing?

  5. Standing up for the children

    Bonding the shortfall is like putting it on the credit card. The debt service alone will eat up the 2% tax cap. This is something that on Tuesday both Spencer and Lesnick agreed would be a bad thing and some of the Council members said that they would oppose. We need real money from the state. The Senate Republicans must do better.

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