Bill Text: NY S05456 | 2013-2014 | General Assembly | Amended

New York Senate Bill 5456 (Prior Session Legislation)

Bill Title: Establishes the school district financial accountability act; requires the chief financial officer of each school district to prepare for approval by the trustees or board of trustees a five-year long-range financial plan.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2014-01-21 - PRINT NUMBER 5456B [S05456 Detail]

Download: New_York-2013-S05456-Amended.html

                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                        5456--B
                              2013-2014 Regular Sessions
                                   I N  S E N A T E
                                     May 16, 2013
                                      ___________
       Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
         printed to be committed to the Committee on Education  --  recommitted
         to the Committee on Education in accordance with Senate Rule 6, sec. 8
         --  committee  discharged,  bill amended, ordered reprinted as amended
         and recommitted  to  said  committee  --  committee  discharged,  bill
         amended,  ordered reprinted as amended and recommitted to said commit-
         tee
       AN ACT to amend the education  law,  in  relation  to  establishing  the
         school district financial accountability act
         THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
       BLY, DO ENACT AS FOLLOWS:
    1    Section 1. The education law is amended by adding a new article 78  to
    2  read as follows:
    3                                  ARTICLE 78
    4                  SCHOOL DISTRICT FISCAL ACCOUNTABILITY ACT
    5  SECTION 3817. SHORT TITLE.
    6          3818. LEGISLATIVE FINDINGS AND INTENT.
    7          3819. DEFINITIONS.
    8          3820. LONG RANGE FINANCIAL PLAN.
    9          3821. PUBLIC ACCESS TO FINANCIAL INFORMATION.
   10    S  3817.  SHORT TITLE. THIS ACT SHALL BE KNOWN AND MAY BE CITED AS THE
   11  "SCHOOL DISTRICT FISCAL ACCOUNTABILITY ACT."
   12    S 3818. LEGISLATIVE FINDINGS AND INTENT. THE LEGISLATURE HEREBY FINDS,
   13  DETERMINES AND DECLARES THAT:
   14    1. SCHOOL DISTRICT FINANCES ARE COMPLEX AND MULTI-FACETED AND  REQUIRE
   15  A  HIGH  LEVEL OF EXPERTISE IN FISCAL MANAGEMENT TO ENSURE THAT TAXPAYER
   16  FUNDS ARE PROPERLY MANAGED AND ALLOCATED.
   17    2. APPROPRIATELY MANAGED SCHOOL FINANCES ARE CRITICAL TO ENSURING THAT
   18  SCHOOL DISTRICTS HAVE THE RESOURCES NECESSARY TO PROVIDE A  SOUND  BASIC
   19  EDUCATION THAT PREPARES STUDENTS TO BE CAREER AND COLLEGE READY.
        EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                             [ ] is old law to be omitted.
                                                                  LBD10639-07-4
       S. 5456--B                          2
    1    3.  SCHOOL  DISTRICT  FINANCES SHOULD BE TRANSPARENT AND ACCESSIBLE TO
    2  THE PUBLIC SO THEY MAY HAVE A CLEAR PICTURE OF THE FISCAL  CONDITION  OF
    3  THE SCHOOL DISTRICT.
    4    S 3819. DEFINITIONS. FOR THE PURPOSE OF THIS ARTICLE:
    5    1.  "SCHOOL  DISTRICT"  SHALL  MEAN  ANY  SCHOOL DISTRICT ORGANIZATION
    6  DEFINED IN TITLE TWO OF THIS CHAPTER.
    7    2. "SCHOOL BUSINESS OFFICIAL" SHALL MEAN ANY SCHOOL DISTRICT  EMPLOYEE
    8  WITH THE TITLE OF ASSISTANT SUPERINTENDENT FOR BUSINESS, SCHOOL BUSINESS
    9  ADMINISTRATOR,  SCHOOL  BUSINESS OFFICIAL, OR SIMILAR TITLE THAT REPORTS
   10  DIRECTLY TO THE SUPERINTENDENT, AND HOLDS THE APPROPRIATE  CERTIFICATION
   11  AS  REQUIRED BY THE DEPARTMENT OR THE OPERATIVE CIVIL SERVICE AGENCY, AS
   12  APPROPRIATE.
   13    3. "LONG RANGE FINANCIAL PLAN" SHALL MEAN A PLAN THAT INCLUDES PROJEC-
   14  TIONS FOR THE SUBSEQUENT FIVE YEARS OF THE SCHOOL DISTRICT THAT  COVERS:
   15  (A)  REVENUES,  (B)  EXPENDITURES,  (C)  UNASSIGNED  FUND  BALANCE,  (D)
   16  RESTRICTED FUND BALANCE, (E) CAPITAL PROJECT  PLANNING  OR  IMPLEMENTING
   17  AND  FINANCING THE DISTRICT'S FIVE-YEAR FACILITY PLAN, AND (F) RESOURCES
   18  REQUIRED TO IMPLEMENT AN INSTRUCTIONAL PROGRAM NECESSARY TO ENSURE  THAT
   19  ALL STUDENTS GRADUATE COLLEGE AND CAREER READY.
   20    S  3820.  LONG  RANGE  FINANCIAL PLAN. EVERY YEAR, COMMENCING WITH THE
   21  PROPOSED BUDGET FOR  THE  TWO  THOUSAND  FIFTEEN--TWO  THOUSAND  SIXTEEN
   22  SCHOOL  YEAR, THE SCHOOL BUSINESS OFFICIAL OF EACH SCHOOL DISTRICT SHALL
   23  PREPARE FOR APPROVAL BY THE TRUSTEES OR BOARD OF  TRUSTEES  A  FIVE-YEAR
   24  LONG-RANGE FINANCIAL PLAN.
   25    S  3821.  PUBLIC  ACCESS TO FINANCIAL INFORMATION. NOTWITHSTANDING ANY
   26  OTHER LAW TO THE CONTRARY, A SCHOOL DISTRICT MUST POST ON  ITS  WEBSITE,
   27  THE  DISTRICT'S  LONG  RANGE  FINANCIAL  PLAN,  ANNUAL AUDITED FINANCIAL
   28  STATEMENT, INCLUDING ANY CORRECTIVE  ACTION  PLAN,  AND  ADOPTED  ANNUAL
   29  BUDGET.
   30    S  2. This act shall take effect one year after it shall have become a
   31  law.