postheadericon Court Settlement Could Restore School Funding

school_lhs_120Since 2010 school districts across New York State have received significantly less money than promised by state legislators.  Called the 'Gap Elimination Adjustment' (GEA), the program is costing the Lansing district about two thirds of the money promised.  On Monday State Senator Mike Nozzolio sent an email to constituents to rally their support for a plan he hopes will eliminate the GEA forever.

"As a result of a landmark settlement between the French Bank BNP Paribas and regulators at the State and Federal level, New York State will be paid over $3 billion dollars by BNP Paribas due to their repeated violations of U.S. laws and sanctions," Nozzolio said.  "This plan will invest the over $3 billion settlement from BNP Paribas back into New York State’s local schools. Under the plan, the $1 billion remaining in the GEA would be eliminated for good!"

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postheadericon Lowered School Tax Cap Means Revenue Gap in 14-15 Budget

school_aerial2Lansing School Business Administrator Mary June King told the Board Of Education Monday that a downward adjustment to Lansing's tax cap will result in a budget shortage of about $40,000.  The Board accepted her recommendation to transfer that amount from the district's Debt Service to its Capital Fund.

"The tax levy information that we sent out in April was wrong," King said.  "We are looking to fix that with this warrant.  In February I submitted the property tax cap filing.  Then we received notice in March of a reduction in state building aid based on final closing reports that were done on schedule back in 2003."

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