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Budget agreement would provide Yonkers School District with state funds

Yonkers Mayor Mike Spano says the state money

Yonkers Mayor Mike Spano says the state money means the city will avoid thousands of layoffs. (March 30, 2014 5:47 PM)

The budget agreement reached by Gov. Andrew Cuomo and legislative leaders on Saturday would provide some financial relief to the ailing Yonkers School District.

The city's school system would receive a one-time bailout of $28 million and permission to borrow up to another $45 million through bonds.

The $55 million deficit the district accrued was largely caused by an accounting error,...

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