If Governor Signs It, School District
Can Close Up To $500K Gap Next Year
SCHENEVUS – Legislation allowing Schenevus Central School to stabilize its shortterm finances by borrowing against future state aid has passed the Assembly Assemblyman Brian Miller, R-New Hartford, who represents the Otsego County community, announced today.
Miller said he worked with state Sen. Jim Seward, R-Milford, and Supt. of Schools Theresa Carlin on the package, which, in addition to advancing state aid, will help the 360-student school district develop a plan for longterm financial solvency.
“Considering the financial condition of our district, any help we are able to get at this point is a welcome,” said Mrs. Carlin.
Having passed the state Senate and, now, the Assembly, the bill will be returned to the senate and, if endorsed, forwarded to Governor Cuomo for his consideration.
Facing a $500,000 budget shortfall next year, the legislation allows the district to request future state aid in the amount of $500,000, balancing the books for the time being and reducing short-term borrowing cost, she said.
The Schenevus school district is one of five in the state that the state Comptroller’s Office has identified as being in “significant financial distress.”
Despite the projected deficit, Schenevus Central School voters May 21 approved the 2019-20 budget.
“The small, rural district has lost population, is struggling to afford higher costs and schools have seen revenue shortfalls,” Miller’s press release said. “Without intervention, the school district would be unable to raise the necessary revenues without going over the state’s 2 percent tax cap.”