NY A10671

Provides East Ramapo central school district with $20,000,000 in accelerated aid to address budgetary shortfall and meet payroll obligations.

District may apply for annual apportionments from school years 2024-2025 through 2053-2054, with payment amounts declining over the 30-year period based on formula (initial year receives full amount, declining proportionally each year).

Apportioned funds must be used for district services, expenses, educational programs, and liabilities, with payments issued by July 31st of each school year after commissioner approval.

Accelerated payments are deducted first from fixed fall payments under education law Section 3609-a, with any remainder deducted chronologically from subsequent individualized payments due the district.

District must submit monthly fiscal condition reports from July 2024 through June 2054 to board of education, monitors, and state officials; chief fiscal officer must also prepare quarterly budget variance and trial balance reports due within 60 days of each quarter's end.