BILL NUMBER:A10319
TITLE OF BILL: An act authorizing certain school districts to elect to
withdraw excess monies from the employee benefit accrued liability
reserve fund; and to repeal certain provisions of the general municipal
law, relating to the examination of accounts
PURPOSE OR GENERAL IDEA OF BILL: To allow those school districts that
have reserve funds to access them.
SUMMARY OF SPECIFIC PROVISIONS: Section one allows school districts with
excess monies in an employee benefit accrued liability reserve (EBALR)
to transfer all or part of these excess funds into a general fund of the
school district. Section two repeals Subdivision 3 of section 33 of the
general municipal law is repealed.
JUSTIFICATION: School districts have held on to EBALR, funds saving
them for an emergency. THIS FISCAL CRISIS IS AN EMERGENCY. Not all
districts have reserve funds but for those with the capability this bill
will allow them to access those funds during this fiscal crisis.
During the testimony of the New York State School Boards Association to
the Joint Legislative Fiscal Committees on the 2010-2011 Executive Budg-
et, it was stated very clearly that access to these funds would be a
great asset and that they strongly support the proposal to allow
districts to withdraw funds in order to maintain educational programming
S T A T E O F N E W Y O R K
________________________________________________________________________
10319
I N A S S E M B L Y
March 18, 2010
___________
Introduced by M. of A. FIELDS -- read once and referred to the Committee
on Education
AN ACT authorizing certain school districts to elect to withdraw excess
monies from the employee benefit accrued liability reserve fund; and
to repeal certain provisions of the general municipal law, relating to
the examination of accounts
THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
BLY, DO ENACT AS FOLLOWS:
Section 1. Any school district having excess monies in an employee
benefit accrued liability reserve fund established pursuant to section
6-p of the general municipal law, on the effective date of this act, may
make a one time election, by resolution of its governing board adopted
no later than one year from such effective date, to transfer all or part
of such excess monies into a general fund of the school district. For
the purposes of this section, "excess monies" shall be that amount in
the fund which exceeds the amount certified to the governing board by
the fiscal and legal officers of the school district as necessary to
satisfy all liabilities incurred or accrued against the reserve.
S 2. Subdivision 3 of section 33 of the general municipal law is
REPEALED.
S 3. This act shall take effect immediately.
EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD16469-01-0
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