At least one district, Syracuse, won't be able to repay a loan because of the delay.
Syracuse, NY -- School districts will get some, but not all, of the state aid they were expecting June 1.
The state budget office said districts will get 61.5 percent of the money they were promised by that date — and the rest by the end of the month. The state’s delay is part of its continuing effort to juggle ongoing budget problems.
The state could have made the payment early, in March, but opted not to, said a budget office spokesman.
While several school districts’ leaders said the delay won’t be a problem — as long as they receive the money by the end of the summer — finance officials for the Syracuse district said they’ve been left scrambling.
The district was expecting $22 million on June 1, but it will only get $13.54 million, with the remainder coming at month’s end. That could create a timing problem, officials said, because the district planned to use the money to repay a loan — due June 30 — that was granted through a “revenue anticipation note. “
The district is exploring extending the timeline for repaying the note, district Chief Financial Officer Suzanne Slack said.
Staff writer Elizabeth Doran contributed to this report. Contact Maureen Nolan 470-2185 or mnolan@syracuse.com.