Lower Hudson Valley counties are expected to save an estimated $151.2 million over the next five years under the new pension reform plan and mandate relief measures that are included in the 2012-13 state budget.
The figures, reported by Gov. Andrew Cuomo’s office, includes savings in Medicaid, early intervention programs and pension reform, which passed earlier this year. Some mandate relief measures have been included in the 2012-13 fiscal year budget. The savings will begin in the next fiscal year.
State mandates involved hundreds of rules that communities and school districts must follow and spend money on to comply with regulations. Some of those rules include construction mandates, curriculum changes in schools and pensions.
Here is a breakdown of the five-year savings as reported by Cuomo’s office:
Early intervention: $3,174,554
Pension reform: $75,475,257
Pension reform: $19,096.637
Early intervention: $103,736
Pension reform: $5,765,088
To learn more about the reforms click here: Government reform. The site also provides a statewide map showing how much each county is expected to save.