Bill Text: MI HB4889 | 2009-2010 | 95th Legislature | Introduced
Bill Title: Education; school districts; internal audit department and reserve fund for self-insured losses for first class school districts; provide for. Amends sec. 432 of 1976 PA 451 (MCL 380.432) & adds sec. 435.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-05-06 - Printed Bill Filed 05/06/2009 [HB4889 Detail]
Download: Michigan-2009-HB4889-Introduced.html
HOUSE BILL No. 4889
May 5, 2009, Introduced by Rep. Young and referred to the Committee on Education.
A bill to amend 1976 PA 451, entitled
"The revised school code,"
by amending section 432 (MCL 380.432), as amended by 2004 PA 303,
and by adding section 435.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 432. (1) The first class school district board annually
shall prepare estimates of the amount of taxes necessary for its
needs for the ensuing fiscal year. The estimates shall specify the
amount required for the "general fund", the amount required for the
"building and site fund", and the amount required for the "debt
retirement fund". If the board causes the appropriation for the
"building and site fund" to be raised by the issuance of bonds
instead of raising the appropriation by taxation, provision shall
be made for the retirement of the bonds in a debt retirement fund.
(2) The board shall adopt a budget in the same manner and form
as required for its estimates and determine the amount of tax levy
necessary for that budget and shall certify on or before the date
required by law the amount to the city.
(3) As part of adopting a budget under subsection (2), the
board shall establish a reserve fund for self-insured losses and a
budgeting policy for that fund.
(4) (3)
The proper officials of the city
shall apportion the
school taxes in the same manner as the other taxes of the city are
apportioned, and the amount apportioned shall be assessed, levied,
collected, and returned for the school district in the same manner
as taxes of the city. The tax levied by the school district, in the
discretion of the legislative body of the city, may be stated
separately on each tax bill.
(5) (4)
If the question under section 410
is approved in the
first class school district, then the chief executive officer
appointed under section 420 has the powers and shall perform the
duties of the board of the first class school district under this
section.
Sec. 435. The first class school district board shall
establish and maintain an internal audit department with
experienced professional auditing staff to audit funds and
expenditures of the school district and report to the board on an
ongoing basis.
