December 18, 2009 - While it was recently announced that the $2.7 billion deficit reduction package adopted by New York State will result in no mid-year cuts to education, on December 14, the Governor delayed 10% of the December 2009 state aid funding for public schools, which meant a reduction of $61,000 for North Colonie.

The Governor has said that during the next few months other monies, including STAR payments, may also be delayed as part of the strategy for dealing with the state fiscal crisis. Although the Governor is saying that this money is just being lagged and will be paid in the future, some pundits are speculating that this lag may become a permanent cut. If this is the case, the district might have to tap into its fund balance –reserves set aside for emergencies – to meet its financial obligations.

We will continue to monitor this situation as further economic news is released.