BILL NUMBER: S9823
SPONSOR: STEWART-COUSINS
 
TITLE OF BILL:
An act in relation to apportioning funds to the Yonkers city school
district for services and expenses
 
PURPOSE:
The purpose of this bill is to provide the Yonkers City School District
with a portion of the annual State funding they receive earlier in the
fiscal year, for the next 30 years.
 
SUMMARY OF PROVISIONS:
Section 1 of the bill states that, beginning in the 2024-2025 school
year and ending in the 20532054 school year, the Yonkers City School
District may apply annually to receive a portion of the State aid that
they will receive during the fiscal year earlier in the year. The
amount of advanced funding the school district can receive will start at
$5 million for the 2024-2025 school year, and will decrease by one thir-
tieth every year that the school district has this opportunity.
To receive this advanced funding, the Yonkers City School District will
have to submit an application to the Commissioner of the Department of
Education every year between the second Monday in May and four days
after the third Monday in May of the school year in which the school
district will receive the aid. If the Commissioner approves the applica-
tion, the school district will receive the advanced funding on or before
May 31 of that same school year.
The Yonkers City School District may only use this advanced funding to
support its educational programs and to pay for any services, expenses,
or liabilities the school district takes on while performing its educa-
tional work.
The chief fiscal officer and the superintendent of the Yonkers City
School District will be required to provide a monthly fiscal report to
the Commissioner on the first of each month from July 2025 to June 2055.
Additionally, the chief fiscal officer of the school district will be
required to monitor all school district budgets and provide a quarterly
report to the Commissioner, the State Comptroller, the State Division of
Budget, the Chair of the Assembly Ways and Means Committee, and the
Chair of the Senate Finance Committee, within sixty days of the end of
each quarter from the 2024-2025 school year through the 2053-2054 school
year.
Section 2 is the effective date.
 
JUSTIFICATION:
The Yonkers City School District has experienced significant fiscal
challenges in recent years. This bill would help alleviate these chal-
lenges by providing a portion of the annual funding that the school
district will already receive in a year earlier in the year. The amount
of this advanced funding will start at $5 million for the 2024-2025
school year and will decrease annually through the 2053-2054 school
year.
 
LEGISLATIVE HISTORY:
This is a new bill.
 
FISCAL IMPLICATIONS:
No net impact.
 
EFFECTIVE DATE:
This act shall take effect immediately.