Assembly Actions -
Lowercase Senate Actions - UPPERCASE |
|
---|---|
Jan 03, 2018 |
referred to education |
Jan 10, 2017 |
referred to education |
Senate Bill S1651
2017-2018 Legislative Session
Sponsored By
(D) Senate District
Archive: Last Bill Status - In Senate Committee Education 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
Actions
2017-S1651 (ACTIVE) - Details
2017-S1651 (ACTIVE) - Summary
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.
2017-S1651 (ACTIVE) - Sponsor Memo
BILL NUMBER: S 1651 TITLE OF BILL : An act to amend the education law, in relation to long range financial planning for school districts SUMMARY OF SPECIFIC PROVISIONS : A new section 3817 of the Education Law is added, entitled the long range financial plan. It requires school districts to develop and adopt three year long range financial plans and post these plans along with their audited financial statements and adopted annual budgets on their websites. JUSTIFICATION : School district finances have become increasingly complex and difficult to manage, particularly during times of fiscal stress. School boards and voters should know how current decisions will affect the ability of the school district to carry out its educational mission in the future. In addition, a school district's fiscal condition should be transparent and made available in a format accessible to the public so they can make informed decisions. Proper long range financial planning is critical to insuring that
2017-S1651 (ACTIVE) - Bill Text download pdf
S T A T E O F N E W Y O R K ________________________________________________________________________ 1651 2017-2018 Regular Sessions I N S E N A T E January 10, 2017 ___________ Introduced by Sen. CARLUCCI -- 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 long range financial planning for school districts THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. The education law is amended by adding a new section 3817 to read as follows: § 3817. LONG RANGE FINANCIAL PLAN. 1. EACH YEAR, COMMENCING WITH THE PROPOSED BUDGET FOR THE TWO THOUSAND EIGHTEEN--TWO THOUSAND NINETEEN SCHOOL YEAR, THE SUPERINTENDENT OF SCHOOLS IN CONSULTATION WITH THE CHIEF FINANCIAL OFFICER OF EACH SCHOOL DISTRICT, AND THE BOARD OF TRUS- TEES, SHALL PREPARE FOR APPROVAL BY THE BOARD OF TRUSTEES A LONG RANGE FINANCIAL PLAN TO ASSIST SUCH DISTRICTS IN ESTABLISHING AND PLANNING FINANCIAL GOALS AND PROJECTIONS. 2. A LONG RANGE FINANCIAL PLAN SHALL MEAN A PLAN THAT INCLUDES INFOR- MATION FOR THE CURRENT SCHOOL YEAR AND PROJECTIONS FOR AT LEAST THE SUBSEQUENT TWO YEARS OF THE SCHOOL DISTRICT THAT COVERS: (A) REVENUES; (B) EXPENDITURES; (C) UNASSIGNED FUND BALANCE; (D) RESTRICTED FUND BALANCE; (E) GRANT AWARDS; AND (F) CAPITAL CONSTRUCTION PROJECT PLAN- NING. 3. A SCHOOL DISTRICT MUST POST ON ITS WEBSITE, IF AVAILABLE, AND IN FIVE PUBLIC PLACES IN SAID DISTRICT, THE DISTRICT'S LONG RANGE FINANCIAL PLAN, ANNUAL AUDITED FINANCIAL STATEMENT, INCLUDING ANY CORRECTIVE ACTION PLAN AS REQUIRED BY SECTION TWENTY-ONE HUNDRED SIXTEEN-A OF THIS CHAPTER, AND ADOPTED ANNUAL BUDGET. 4. A DISTRICT MAY APPLY TO THE COMMISSIONER FOR A WAIVER OF THE REQUIREMENT TO PREPARE A LONG TERM FINANCIAL PLAN UNDER SUBDIVISION ONE OF THIS SECTION, WHICH MAY BE GRANTED AT THE DISCRETION OF THE COMMIS- SIONER IF THE COMMISSIONER DEEMS THAT COMPLIANCE WITH SUCH SUBDIVISION WOULD BE UNDULY BURDENSOME OR IMPRACTICABLE FOR THE SCHOOL DISTRICT. § 2. This act shall take effect one year after it shall have become a law.
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