STATEMENT FROM BUDGET DIRECTOR ROBERT MEGNA

ALBANY, NY (02/07/2011)(readMedia)-- "We appreciate the Mayor's support and look forward to continuing to work with the Mayor and his Administration in a collaborative fashion to address this serious fiscal situation. The Mayor's budget assumed a double-digit percentage increase in education aid even though the city received a year-to-year cut in last year's budget. Given the fiscal situation facing the city, state, and nation, it was obviously not realistic to assume an increase in funding in the 2011-2012 budget.

"Governor Cuomo's budget does not cut $1.4 billion in education aid to New York City. Rather, on a year to year basis, education aid to New York City is cut $579 million. In addition, the $579 million cut is approximately 2.7 percent of the city's total school budget, which is lower than the statewide average cut of 2.9 percent of the average school budget. It is also worth noting that Mayor Bloomberg has up to $2 billion in reserves which could be used to offset the loss of this education funding. As a result, we believe teacher layoffs should not be necessary.

"As for revenue sharing, last year, the city received no money in revenue sharing and this year it will receive no money in revenue sharing, and therefore, there is no year-to-year reduction regarding this money."

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