N.Y. Comp. Codes R. & Regs. tit. 8 § 170.5

Current through Register Vol. 46, No. 51, December 18, 2024

Section 170.5 - Advances to certain school districts and cities

Each city with a population in excess of 125,000 inhabitants, and each school district which is coterminous with, or partly within or wholly within, a city having less than 125,000 inhabitants, making an application for an advance of funds, pursuant to the provisions of chapter 280 of the Laws of 1978, shall submit to the commissioner an application for approval of eligibility and advance of first instance funds, a copy of the tentative budget of such city or school district, a copy of the proposed budget for the city or school district which has been prepared in accordance with the applicable constitutional debt limit using the special State equalization ratio established pursuant to chapter 280, and a financial plan, as such terms are defined in this section.

(a) Tentative budget shall mean the budget prepared for the 1978-79 school year and filed with the clerk of the board of education of a school district which is coterminous with, or partly within or wholly within, a city having less than 125,000 inhabitants in accordance with section 2516 of the Education Law, or the budget submitted by the officer required to make such submission to the legislative body of a city with a population in excess of 125,000 inhabitants. The tentative budget shall be in the form and shall contain the information required by section 2516 of the Education Law, or the statute or city charter provision governing the submission of city budgets in cities with a population in excess of 125,000 inhabitants.

(b) An application for approval of eligibility and advance of first-instance funds for the 1978-79 fiscal year shall be in a form prescribed by the commissioner and shall include the following items:

(1) the amounts excluded by the city or school district in computing the 1977- 78 school year constitutional tax limit;

(2) the amount of real property tax levied in the 1977-78 school year which was in excess of the applicable constitutional tax levy;

(3) a five-year full valuation computed with the use of the special State equalization ratios allowed pursuant to chapter 280 of the Laws of 1978;

(4) the constitutional tax limit determined by use of the special State equalization ratios allowed pursuant to chapter 280 of the Laws of 1978;

(5) the total tax levy for the tentative budget;

(6) the operating tax levy for the proposed 1978-79 budget of the city or school district;

(7) a computation of the maximum amount of an advance of funds which could be made pursuant to chapter 280 of the Laws of 1978;

(8) the amount of the advance requested by the city or school district; and

(9) the signature of the chief fiscal officer of the city or school district for which the request is submitted.

(c) The financial plan to accompany the application submitted by a city or school district shall be in a form prescribed by the commissioner, and shall include the following information:

(1) appropriation amounts for certain functional units of expense designated by the commissioner and included within the proposed 1978-79 city or school district budget;

(2) estimated amount of revenue for the 1978-79 fiscal year;

(3) such other items as are requested by the commissioner to allow him to determine the ability of the city or school district to maintain balanced budgets during the 1978-79 and 1979-80 fiscal years; and

(4) an assurance by the city or school district that the commissioner will be provided in a timely manner with such information as he deems necessary to fully determine the ability of the city or school district to repay the advance of funds and to meet minimum educational program requirements imposed by statute, rule or regulation.

N.Y. Comp. Codes R. & Regs. Tit. 8 § 170.5