NY Delaying School Aid Payments
For the second time in four months, New York Governor David Paterson has ordered a delay in school aid payments.
$2.1 billion was supposed to be paid today. Paterson says the state intends to meet the June 1 statutory deadline for making this payment, assuming enough cash is available by then.
In December, Paterson ordered the withholding of $750 million in payments to school districts, local governments, and other entities in order to prevent the state from running out of cash. Those payments were made in January when the state’s operating margins temporarily improved.
Paterson also said some road construction projects will also be delayed.
http://www.state.ny.us/governor/press/033010DelayedPayments.html
$2.1 billion was supposed to be paid today. Paterson says the state intends to meet the June 1 statutory deadline for making this payment, assuming enough cash is available by then.
In December, Paterson ordered the withholding of $750 million in payments to school districts, local governments, and other entities in order to prevent the state from running out of cash. Those payments were made in January when the state’s operating margins temporarily improved.
Paterson also said some road construction projects will also be delayed.
http://www.state.ny.us/governor/press/033010DelayedPayments.html
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