Yonkers City Council still unsure how to close school budget gap
City Council members in Yonkers decided last night that they had too many questions to warrant voting on a plan that could have restored millions of dollars to the school district.
The funding could be allocated to the district if they decide to create a transitional finance authority, an independent agency that would allow the city to refinance and borrow some $20 million.
More than 700 school employees, including teachers, have already been told that they will be out of a job next school year. City Council President Chuck Lesnick says that no matter what plan the council decides on, it will likely take more than just one year to fix the district's budget issues.
The council has only 10 days to settle on a plan and have it approved by the state.