Late payments from state agencies put squeeze on CNY nonprofits

The Post-Standard featured an article about how some CNY agencies have been forced to make cuts while waiting for state money.

Just think how difficult it would be to run your household and pay bills if your boss held your pay back for six months.

That's the reality for many nonprofit agencies. These groups are trying to provide help to the neediest folks in the community, yet often must borrow money to keep programs operating.

"Our contracts are all being tied up," said Diane Cooper-Currier, executive director of Oswego County Opportunities, a community action agency that runs various youth, shelter and education programs to assist low-income people.

"The lag time as to when grant contracts start and when we get the money is five or six months," she said.

Cooper-Currier did not have specific examples of how much money OCO has borrowed to keep programs going. But she did say the interest is paid back through a slush fund the nonprofit has and "when the slush fund is depleted, it's taking money away that could be used for something else." Read more here.