Frank Vescera says, "The legislation will prevent the co-mingling of funds and provide for a dedicated account for the school system tax collection funds. The interest garnered from that fund would obviously belong to the city, but the principle can't be touched unless payment is made to the school district."
Part of the problem was the city is waiting on ten million dollars in state aid through a program called aid and incentive for municipalities. Assemblyman Anthony Brindisi is now asking the governor to look into the immediate release of that aid. Otherwise the city will have to wait until March 31st. Council Member Frank Vescera says he has support for the new legislation and one councilmember that agrees with his idea.
Council Member Samantha Colosimo-Testa says, "That way you're not strapped in terms of having to get our state relief a little earlier and basically it just gives us a little more organization to where the money should go and what we use it for."
Councilmen Vescera says the third part of his legislation will be to change the budgetary year from April first to June first.
"The city budget and the state budget are the same, April first. If we move the budget, our budget to June it will take away a lot of the uncertainty that exists with how much money we're getting or not getting from the state."
Vescera says he hopes to propose this legislation at the next common council meeting in March.