VLT AID FOR CITY IS ELIMINATED IN GOVERNOR’S 2020-2021 EXECUTIVE BUDGET
Governor Cuomo announced his 2020-2021 Executive Budget today, and it includes the elimination of Video Lottery Terminal (VLT) Aid to the City of Saratoga Springs. In 2020, the City expected to receive $2,325,592 in VLT Aid revenue.
“It goes without saying that this would be a significant loss of revenue to the City, while the expense of hosting a premier Race Track remains our responsibility,” states Commissioner of Finance Michele Madigan.
Established in the 2006-2007 NYS budget, the City has been receiving between $2 - $3 million dollars per year to assist with a myriad of costs associated with hosting Video Lottery Terminals. VLT AID is imbedded in State law. Accordingly, the Governor’s Executive budget would require a subsequent change in State law to implement its elimination.
“This is not the first time the Governor’s Executive Budget and the State have pulled back on VLT revenue. It has been decreased at least once and eliminated before - only to be re-instated at a substantially decreased amount,” reports Madigan.
Commissioner Madigan resolves: “The City has been successful in getting VLT Aid restored in the past, and it must exercise that same diligence now. I will be contacting members of the Senate, Assembly and Governor’s office, and I will ask Council members to do the same. We need to protect the City’s outstanding revenue sources, especially one that is so closely linked to the City’s history, identity, and expenses.
I appreciate Council assistance and State level support. I will continue to report to the Council and public.