New York Governor David Paterson says the state can't afford $2.1 billion in school aid. The state was scheduled to start making payments to schools this Wednesday but is not legally required to pay them until June 1. Paterson says the state will have the money by then.

"Plummeting revenues and record deficits have once again forced me to take extraordinary cash-management actions in order to ensure the continued orderly operation of our government," Paterson said.

The Post-Standard reports Paterson withheld school aid payments this past December, when he declined to make $750 million in payments to school districts and local governments. The state made the payments one month later in January.

Emirates fund director dies in gliding accident

Moroccan authorities found the body of the director of the world's largest wealth fund Tuesday, five days after he crashed during a gliding accident. The New York Times reports Sheik Ahmed bin Zayed Al Nahya, 38, was ranked 27th on Forbes' list of the world's most powerful people in 2009. He is also the younger brother of the president of the United Arab Emirates.

"He was a quiet and a cautious individual, an ideal person for such a powerful position,'' Christopher Davidson, a professor at the University of Durham, said.

Analysts say the Abu Dhabi fund he led is believed to be the largest wealth fund in the world, with an estimated wealth of $875 billion. The search for Sheik Ahmed's body involved divers from Morocco, the Emirates, France, Spain and the United States. 

Lavin returns to the bench

ESPN analyst and former UCLA head coach Steve Lavin is making a return to college basketball. ESPN reports St. John's University hired Lavin Tuesday after firing Norm Roberts.

Lavin inherits a team with 10 seniors returing for the 2010-11 season. Lavin coached the Bruins to six NCAA tournament appearances, including one Elite Eight appearance. He has worked at ESPN since being fired from UCLA in 2003.

This past season, St. John's finished 17-16 overall and 6-12 in the Big East. The team upset UConn in the Big East tournament and nearly beat Marquette. St. John's has not made it to the NCAA tournament since 2002.