New York State Division of the Budget Yonkers Emergency Financial Control Board Meeting Files

Chronological by meeting date.

The Yonkers Emergency Financial Control Board was established in 1984 (Chapter 103) to deal with a financial emergency in Yonkers resulting from "inadequate management of the city's financial affairs, increased service demands of the population and shortfalls in receipts and anticipated revenues." In May of 1984 it was determined that Westchester County had provided Yonkers with $9.5 million in revenues that were raised through improper property taxation. Further compounding this deficit was a $12-$14 million spending "overage" occurring at the city's dependent school system. Since the city had exhausted 100% of its real property tax margin and was constitutionally barred from raising taxes further, it did not have the means to refund the $9.5 million, address the school system "overage," and maintain budgetary balance.

The board was given broad authority to oversee city finances, including review of city financial plans and all proposed city contracts, bonds, borrowings or collective bargaining agreements before they could be issued or approved by the city. Board approval was needed by the city before it could enter into such contracts or financial obligations.

The board originally consisted of the lieutenant governor (as chair), the state comptroller, the Yonkers city manager and four appointees of the governor. Later, the secretary of state replaced the lieutenant governor as board member and chair (Chapter 6, Laws of 1985) and the mayor of Yonkers replaced the city manager (Chapter 742, Laws of 1991). The board operated with the administrative support of the Division of the Budget and is considered part of DOB for disposition scheduling purposes.

In July 1998, the financial emergency that prompted creation of the board was declared by the board to have ended. This effectively ended board authority over city finances and triggered its automatic closure six months hence (i.e., in January 1999), as provided in the authorizing statute.

The Yonkers Emergency Financial Control Board created these records through regular meetings held to review city finances and to approve or disapprove proposed city expenditures in the form of contracts, bonds, borrowings, or collective bargaining agreements. Board authority covered not only the City of Yonkers as such, but also the Yonkers school district, Yonkers Parking Authority, and the Yonkers Industrial Development Agency.

The series includes agendas; meeting notices; voting records; resolutions and orders that were voted on by board members; meeting minutes; board correspondence and memos; staff analysis memos prepared by board staff, reviewing proposed expenditures or other fiscal matters and recommending board actions; press clippings about the board and city finances; tape recordings of board meetings; and related records.

Container list is available at the repository.

This Emergency Financial Control Board should not be confused with another of the same name that operated from 1975-1978 as part of the Comptroller's Office. That earlier board neither created nor maintained records in the series described here; it did, however, produce records described as State Archives series 12564 and 12565.

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