Paterson Makes Own Budget Cuts

Posted by: Joseph Spector - Posted in Uncategorized on Nov 20, 2008

Since Governor Paterson can’t get the Legislature to go along with his $2 billion in cuts, he’s made two of his own administratively, saving about $98 million.

Only $1.9 billion left this fiscal year.

They are, from his budget proposal:

Rescind 2008-09 Vacation Exchange Program: Currently, management/confidential employees are allowed to exchange limited amounts of unused vacation time for cash payments. This program would be rescinded for 2008-09. (2008-09 Savings: $5 million, 2009-10 Savings: $0 million).

Change Timing of NYC STAR Payment. Consistent with existing statutory authority, the December 2008 STAR payment to the City of New York would be moved to June 2009. This will have no impact on New York City’s Financial Plan, as the payment would be made in the same City Fiscal Year. (2008-09 Savings: $93 million, 2009-10 Savings: $20 million)