Schenevus Central

Allowed To Borrow

Against Future Aid

Seward, Miller Sponsored Bill

To Save School, Cuomo Signs It

ALBANY – Governor Cuomo has signed legislation to stabilize Schenevus Central School’s finances by allowing it to borrow against future state aid, as much as $500,000 in the upcoming school year, and to put together a long-term financial plan for the district.

State Sen. Jim Seward, R-Milford, and Assemblyman Brian Miller, the Republican who represents Schenevus, today announce the bill they sponsored has become law.  It also  establishes a long-term plan to stabilize the school district’s finances.

“This legislation is good news for Schenevus students and taxpayers alike,” said Seward.  “By stabilizing the district’s finances in the short term, school officials can now plan for a sound future.”  He praised Superintendent Theresa Carlin and  the school board.

Said Miller, “The passage of this kind of legislation is what I was elected to do – help our local communities …Our schools cannot operate to their maximum potential if they are in a financial bind. This legislation will help the Schenevus Central School District now and in the future.”

Carlin expressed excitement and thanks on hearing the news.

According to the press release, previous school administrators had depleted the fund balance and the 360-student district is currently operating with a $700,000 budget deficit.  The state comptroller recently designated Schenevus as one of five school districts in the state facing “significant financial distress.”

Under the new law, Schenevus will be eligible to receive an advance aid payment of up to $500,000 this year with the sum decreasing over the next thirty years to support the district’s educational program.  District officials must also comply with strict reporting guidelines to certify they are following a prescribed plan to ensure sustained financial solvency.

The law takes effect immediately.