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AR SB100
Bill
Status
2/8/2021
Primary Sponsor
Missy Irvin
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AI Summary
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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.
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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.
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Mandates student accounts receivable policies be published in student handbooks and on institution websites, with the Arkansas Higher Education Coordinating Board developing implementation rules.
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Requires financial condition reports to include total student accounts receivable with aging reports and calculation of days of cash on hand per new standards.
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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