Senate Bill S7155

2015-2016 Legislative Session

Relates to the school district internal audit function

download bill text pdf

Sponsored By

Archive: Last Bill Status - In Assembly Committee


  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2015-S7155 (ACTIVE) - Details

Current Committee:
Assembly Education
Law Section:
Education Law
Laws Affected:
Amd §2116-b, Ed L
Versions Introduced in Other Legislative Sessions:
2017-2018: S3962
2019-2020: S5584
2021-2022: S1369

2015-S7155 (ACTIVE) - Summary

Relates to the school district internal audit function; requires a biennial review and update of the risk assessment of district operations.

2015-S7155 (ACTIVE) - Sponsor Memo

2015-S7155 (ACTIVE) - Bill Text download pdf

                            
                    S T A T E   O F   N E W   Y O R K
________________________________________________________________________

                                  7155

                            I N  S E N A T E

                             March 31, 2016
                               ___________

Introduced  by  Sen.  SEWARD -- read twice and ordered printed, and when
  printed to be committed to the Committee on Education

AN ACT to amend the education law, in relation to  the  school  district
  internal audit function

  THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:

  Section 1. Subdivision 1 of section 2116-b of the  education  law,  as
added by chapter 263 of the laws of 2005, is amended to read as follows:
  1.  No  later  than July first, two thousand six, each school district
shall establish an internal audit function to be in operation  no  later
than  the  following December thirty-first. Such function shall include:
(a) development of a risk assessment of district  operations,  including
but  not  limited  to, a review of financial policies and procedures and
the testing and evaluation of district internal controls; (b) [an  annu-
al] A BIENNIAL review and update of such risk assessment; and (c) prepa-
ration  of reports, at least annually or more frequently as the trustees
or board of education may direct, which analyze significant risk assess-
ment findings, recommend changes for strengthening controls and reducing
identified risks, and specify  timeframes  for  implementation  of  such
recommendations.
  S 2. This act shall take effect immediately.





 EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                      [ ] is old law to be omitted.
                                                           LBD14877-01-6


              

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