NY A10196

Amends General Municipal Law Section 6-n to authorize the Minisink Valley central school district to establish insurance reserve funds, joining the Scarsdale union free school district in this capability.

Allows both school districts to make expenditures from insurance reserve funds for losses, claims, actions, or judgments related to risks covered under paragraph three of Insurance Law Section 1113.

Creates new Education Law Section 3653 requiring school districts with insurance reserve funds to adopt and post a written policy on their website detailing the fund's purpose, optimal funding levels, intended duration, and conditions for use and replenishment.

Mandates school boards conduct periodic analyses of reserve fund balances to ensure reserves remain at reasonable levels and establish procedures for reducing or discontinuing funds when no longer needed.

Takes effect immediately upon enactment.