Bill > S00325

This bill provides a financial support mechanism for the Mount Vernon city school district by establishing an accelerated payment program from the 2025-2026 through 2052-2053 school years. The school district can apply for special apportionments of $5 million, with the total amount progressively decreasing each year (calculated by dividing $5 million by the number of years elapsed). The funds are intended to help stabilize the district's fiscal condition and support educational programs and liabilities. The bill requires the district's chief fiscal officer and superintendent to submit monthly reports to the school board detailing the district's fiscal condition, including fund balances and use of the apportionments. Additionally, the chief fiscal officer must prepare quarterly budget reports comparing revenue estimates and expenditures, which must be submitted to various state agencies, including the state comptroller, division of budget, and legislative committee chairs. The bill includes provisions for deducting these special payments from future state school aid payments and ensures that the total aids paid to the district are considered when computing future aid adjustments. The goal is to provide financial oversight and support to help the Mount Vernon city school district maintain fiscal stability over a 28-year period.

Education

https://www.nysenate.gov/legislation/bills/2025/S325