Bill Text: PA HB582 | 2009-2010 | Regular Session | Introduced

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Bill Title: Further providing for reports to Department of Education and for financial reports.

Spectrum: Strong Partisan Bill (Republican 10-1)

Status: (Introduced - Dead) 2009-02-24 - Referred to EDUCATION [HB582 Detail]

Download: Pennsylvania-2009-HB582-Introduced.html

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PRINTER'S NO. 639
THE GENERAL ASSEMBLY OF PENNSYLVANIA
HOUSE BILL
No. 582 Session of2009
INTRODUCED BY BARRAR, ADOLPH AND GINGRICH, FEBRUARY 24, 2009
REFERRED TO COMMITTEE ON EDUCATION, FEBRUARY 24, 2009
AN ACT
Amending the act of March 10, 1949 (P.L.30, No.14), entitled "An
act relating to the public school system, including certain
provisions applicable as well to private and parochial
schools; amending, revising, consolidating and changing the
laws relating thereto," further providing for reports to
Department of Education and for financial reports.
The General Assembly of the Commonwealth of Pennsylvania
hereby enacts as follows:
Section 1. Section 218 of the act of March 10, 1949 (P.L.30,
No.14), known as the Public School Code of 1949, added May 10,
2000 (P.L.44, No.16), is amended to read:
Section 218. Reports to Department of Education.--All
financial accounting and reporting by school districts to the
Department of Education shall be in accordance with generally
accepted accounting and reporting standards[.], except for the
annual financial report. The Department of Education shall
establish a reporting standard for the annual financial report.
The standard shall conform to fund level reporting criteria
only. Entitywide statements, management discussion and analysis
and notes to the financial statements are not a required
component of the annual financial report.
Section 2. Section 921-A of the act, amended July 11, 2006
(P.L.1092, No.114), is amended to read:
Section 921-A. Financial Reports.--An annual financial
report shall be submitted to the Secretary of Education by each
intermediate unit not later than the 31st day of October,
together with an auditor's report prepared by an independent
auditor who shall be a certified public accountant or other
competent public accountant. All financial accounting and
reporting by intermediate units to the Department of Education
shall be in accordance with generally accepted accounting and
reporting standards[.], except for the annual financial report.
The Department of Education shall establish a reporting standard
for the annual financial report. The standard shall conform to
fund level reporting criteria only. Entitywide statements,
management discussion and analysis and notes to the financial
statements are not a required component of the annual financial
report.
Section 3. This act shall take effect July 1, 2009, or
immediately, whichever is later.
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