DiNapoli: Tighter State Aid On The Horizon For Schools
School districts should plan for limited state and local revenue growth in their budgets next year, based on projections for shrinking state tax collections and another low tax cap.
That's according to State Comptroller Thomas DiNapoli. He made the remarks during an interview for the New York State School Boards Association's website.
“We may have to be perhaps a little more conservative in our assumptions as we move forward,” DiNapoli said. “State budget gaps could be as high as $5 billion per year over three years due to increased state spending, decreased tax collections, and depletion of reserve funds.”
DiNapoli also told school boards not to expect to make up anyone shortfalls in state aid through property taxes, since he expects the tax cap levy to again be lower than 2 percent.
You can find a link to the interview at nyssba.org.