The Gap Elimination Adjustment
The Gap Elimination Adjustment (GEA) is
money deducted from school district state aid to eliminate a gap
in the NYS budget. Aid allotted for school districts is siphoned
off to be used for other purposes.
West Irondequoit has lost $12,263,129 in
funding over the past five years.
If this practice were discontinued, and
West Irondequoit were to receive its full share of state aid,
the burden on the property tax payer would be less.
There is increasing discussion among
lawmakers about using the
money the state will receive from lawsuit settlements in the
banking and insurance industry to eliminate the GEA.
We have gathered information on this topic