N.Y. Schools to Get Half of Stimulus Cash this Month

Sen. Charles Schumer says New York schools and the state will get much of their federal stimulus cash by the end of this month, a critical timeframe for budgeting that affects state and local taxes. The New York Democrat says schools will get half of their share of the federal stimulus package as school boards statewide and mayors of the biggest cities prepare 2009-10 budgets. The early release means school districts will have as much as millions of dollars more to help them avoid raising the nation’s highest property taxes.For New York state government, the cash comes as the Legislature and Gov. David Paterson negotiate a budget. The roughly $120 billion spending plan is projected to have a $14 billion deficit.

New York is getting $24.6 billion over two years in economic stimulus.

{AP/Elisha Ferber-Matzav.com Newscenter}