NY S09887

Provides the East Ramapo central school district with a $20,000,000 accelerated payment to address a substantial budgetary shortfall and meet payroll obligations.

Establishes a declining payment schedule from school years 2024-2025 through 2053-2054, with annual apportionments calculated as a fraction of $20 million that decreases over 30 years.

Requires applications for apportionment funds to be submitted between the second and third Monday in July of each school year, with payments due by July 31st.

Mandates monthly fiscal condition reports from the district's chief fiscal officer and superintendent to the board of education, monitors, commissioner of education, and state comptroller through June 2054.

Requires quarterly budget variance and trial balance reports from the chief fiscal officer to be submitted within 60 days of each quarter's end to multiple state agencies and legislative committees.