AZ HB2011

Amends Arizona Revised Statutes section 15-1221 to modify provisions governing school district bank accounts for vendor payments and payroll operations.

Allows school district governing boards to establish bank accounts for making electronic payments to vendors and clearing accounts to counties as fraud protection measures, with deposits transferred in amounts equal to each vendor payment.

Establishes that vendor payment and payroll accounts operate as revolving clearing accounts maintaining zero balances funded by warrants from the county school superintendent, with any interest earned transferred annually to the district's maintenance and operation fund.

Extends similar banking authority to school service programs established under section 15-365, permitting them to establish accounts for electronic vendor payments under the same clearing account framework.

Requires the Auditor General and Department of Education to jointly prescribe accounting procedures for monies managed under these accounts in the uniform system of financial records.