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AR SB100

Bill

Status

Passed

2/8/2021

Primary Sponsor

Missy Irvin

Click for details

Origin

Senate

93rd General Assembly (2021 Regular)

AI Summary

  • Requires the Division of Higher Education to maintain links to each state-supported institution's website and mandates institutions display governing board member names/emails, meeting dates/locations, agendas/minutes, annual audit reports, and conflict of interest policies online.

  • Expands student accounts receivable policy requirements for two-year institutions to include annual aging reports to governing boards, collection procedures for delinquent accounts, and prevention of students with long-standing balances from registering or completing courses.

  • Mandates student accounts receivable policies be published in student handbooks and on institution websites, with the Arkansas Higher Education Coordinating Board developing implementation rules.

  • Requires financial condition reports to include total student accounts receivable with aging reports and calculation of days of cash on hand per new standards.

  • Requires annual solvency certifications from institution boards and presidents/chancellors by February 28 accompanied by financial statements and days of cash-on-hand calculations, with exception for University of Arkansas for Medical Sciences.

Legislative Description

To Enhance Higher Education Fiscal Accountability And Transparency; And To Amend Provisions Of The Arkansas Code Concerning Student Accounts Receivable Policies And Certain Financial Condition Reports.

Last Action

Notification that SB100 is now Act 69

2/8/2021

Committee Referrals

Education1/25/2021
Education1/12/2021

Full Bill Text

No bill text available