"...a group that has such a long and distinguished record in identifying and addressing crucial issues affecting the governments of the city and state of New York." Federal Reserve Chairman Ben S. Bernanke
A study released earlier this month by The Economist Intelligence Unit held good news for New York City, which ranked first among 120 global cities based on ability to attract capital, businesses and talent. But the competition is fierce, and is not limited to international megacities like London, Singapore, Hong Kong, and Tokyo.
Human capital is a hot topic. Thriving in the information economy requires a highly skilled workforce with specialized expertise and an ability to innovate. Attracting such a workforce is essential to New York's ability to retain strength in core industries and cultivate emerging ones.
The future econonomic prosperity of the New York City metropolitan area depends on attracting and retaining a highly-educated workforce. In coming years, economic growth will be driven by industries that require highly-skilled workers with specialized knowldge, technical expertise and an ability to innovate.
The letter urges Governor Cuomo to veto A.10722A/S.7722A, a bill that would allow for consideration of a child’s “home environment and family background” in special education placement determinations. This provision has the potential to create significant costs for school districts that are already under severe fiscal pressure.
In school year 2012-13 school districts in New York are expecting to receive $20.4 billion in aid from New York State, an amount that comprises just over 40 percent of the their total budgets on average. Aid varies among districts, however.
One of the items yet to be settled in the State budget is the distribution of the Governor’s proposed $805 million state aid increase for school districts. Governor Cuomo’s education aid proposal contains three parts: 1) an increase in foundation aid of $290 million; 2) the addition of $265 million in categorical aids; and 3) $250 million for new competitive performance grants.
New York State imposes more than 200 special education mandates above and beyond those required by federal law. Some were put in place to protect due process or guarantee timely services, while others limit class sizes and caseloads. All translate into higher costs and help fuel rapid spending growth.
In June 2010 the New York State budget was two months past due; Governor David Paterson’s calls for state employee furloughs and salary freezes had been rebuffed by labor union leaders; and a no-layoff pledge for state workers, agreed to in exchange for pension reforms for new hires, was in effect through the end of the calendar year.