Assemblyman Tony Jordan (R,I,C-Jackson) today announced that in this year’s 2012-13 budget the City of Saratoga Springs will receive $1.496 million and the county will receive $499,000 in aid as host communities for Video Lottery Terminals (VLT). These amounts are at current aid levels from the 2011-12 Budget. “Moving forward, however, having a predictable funding formula for VLT host communities must be the next step,” said Jordan.
“A predictable source of revenue from VLT hosting would allow the city and county to better plan for the funding of services which are vital to their communities and help make these attractions successful and lucrative for the State,” said Assemblyman Jordan. “The lack of certainty in VLT funding each year provides for no stability or predictability in the budget process for the city and county and often does not reflect accurately the cost of the host communities.”
Earlier this year, Assemblyman Jordan began working with the Governor’s office in an effort to develop a more predictable and measurable funding formula for host communities. The City of Saratoga Springs and the County of Saratoga have experienced a decrease in VLT aid in excess of 50 percent since the 2008-2009 Fiscal Year. Ensuring certainty in the future will help alleviate fiscal concerns.
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