NY A03493

Yonkers city school district receives accelerated annual apportionments of $5,000,000 adjusted by a declining formula for school years 2024-2025 through 2053-2054, with applications submitted between the second and third Monday in May or ten days after the act takes effect.

Funds must be applied to support educational programs and liabilities of the school district, with payments due by May 31st each year from state lottery funds and the general fund.

Payments under this act are deducted first from lottery apportionments, then from fixed fall payments, and any remainder from individualized payments due under existing education law section 3609-a.

Yonkers city school district must submit monthly fiscal condition reports to its board of education beginning July 2025 through June 2055, detailing fund balances and use of apportionments in a format prescribed by the commissioner of education.

School district's chief fiscal officer must prepare quarterly budget reports for school years 2024-2025 through 2053-2054 comparing actual revenues and expenditures to budget estimates, submitted to state officials and legislative committee chairs within sixty days of each quarter.