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VLT monies cut in Spa budget26 November 2008SARATOGA SPRINGS, New York -- As reported by The Times Union: "The city should dip into its cash reserves, cut workers and consider hiring and salary freezes to make up for at least $1.66 million in lost video slot machine revenues from the state, Finance Commissioner Kenneth Ivins said Monday. "Ivins presented an amended $37.3 million city budget for 2009 to the City Council that includes $1.89 million from New York for hosting state-run video lottery terminals, down from the almost $3.3 million in VLT monies it received this year. "Gov. David Paterson told the city last week that the $3.3 million in VLT 'impact' aid it received last year would be slashed in half. Ivins said he thinks the state will ultimately deliver $1.89 million of the money..." |