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NY A05005
Bill
Status
2/10/2021
Primary Sponsor
Amy Paulin
Click for details
AI Summary
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Requires each school district superintendent, in consultation with the chief financial officer and board of trustees, to prepare an annual long-range financial plan beginning with the 2022-2023 school year budget.
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Long-range financial plans must include current year information and projections for at least the subsequent two years covering revenues, expenditures, unassigned fund balance, restricted fund balance, grant awards, and capital construction project planning.
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School districts must post their long-range financial plan, annual audited financial statement with any corrective action plan, and adopted annual budget on their website and in five public places within the district.
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Commissioner of Education may grant waivers from the long-range financial plan requirement if compliance would be unduly burdensome or impracticable for a school district.
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The act takes effect one year after becoming law.
Legislative Description
Relates to long range financial planning for school districts; requires the superintendent of schools in consultation with the chief financial officer of each school district to prepare for approval by the board of trustees a three-year long-range financial plan to assist districts in establishing and planning financial goals and projections.
Last Action
enacting clause stricken
9/7/2022