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Meeting Date:
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6/17/2020 - 5:00 PM
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Category:
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FINANCE
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Type:
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Action
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Subject:
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15.4 Authorization for $5,500,000.00 State Aid Loan
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District Goals:
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Enclosure
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File Attachment:
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Rationale:
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Advance receipt of State Aid commensurate with prior year
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Funding:
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Resolution:
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The State of New York, pursuant to Chapter 88 of the Laws of 2000, accelerated $6 million of Education State aid during the 1999-2000 fiscal year. In each of the subsequent 30 years, the aid formula enumerated in the statutes will reduce the accelerated portion by $200,000 per year. This loan is interest free.
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Approvals:
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Recommended By:
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Signed By:
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Finance Department - Finance Reviewer
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Signed By:
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Elizabeth Janocha - Deputy Commissioner
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Signed By:
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John Liszewski - Commissioner
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Signed By:
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Matthew Gallagher - Corporation Counsel
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Signed By:
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Dr. Edwin M. Quezada - Superintendent of Schools
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Vote Results:
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| Original Motion | | Member Dr. Rosalba Corrado Del Vecchio Moved, Member Kevin Cacace seconded to approve the Original motion 'The State of New York, pursuant to Chapter 88 of the Laws of 2000, accelerated $6 million of Education State aid during the 1999-2000 fiscal year. In each of the subsequent 30 years, the aid formula enumerated in the statutes will reduce the accelerated portion by $200,000 per year. This loan is interest free.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0. | | The motion Carried 7 - 0 | | | | | Judith_Ramos Meier | Yes | | Rev. Steve Lopez | Yes | | Andrea Brown | Yes | | Dr. Rosalba Corrado Del Vecchio | Yes | | Kevin Cacace | Yes | | Dr. John Castanaro | Yes | | Abdool H. Jamal | Yes | |
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