Bill Text: NY S05236 | 2015-2016 | General Assembly | Amended

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Bill Title: 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.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2016-01-14 - PRINT NUMBER 5236B [S05236 Detail]

Download: New_York-2015-S05236-Amended.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                         5236--B
                               2015-2016 Regular Sessions
                    IN SENATE
                                       May 8, 2015
                                       ___________
        Introduced  by Sen. CARLUCCI -- read twice and ordered printed, and when
          printed to be committed to the Committee  on  Education  --  committee
          discharged, bill amended, ordered reprinted as amended and recommitted
          to  said  committee  --  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 commit-
          tee
        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:
     1    Section 1. The education law is amended by adding a new  section  3817
     2  to read as follows:
     3    §  3817.  Long range financial plan. 1. Each year, commencing with the
     4  proposed budget for the two thousand  seventeen--two  thousand  eighteen
     5  school  year,  the  superintendent  of  schools in consultation with the
     6  chief financial officer of each school district, and the board of  trus-
     7  tees,  shall  prepare for approval by the board of trustees a long range
     8  financial plan to assist such districts  in  establishing  and  planning
     9  financial goals and projections.
    10    2.  A long range financial plan shall mean a plan that includes infor-
    11  mation for the current school year and  projections  for  at  least  the
    12  subsequent  two  years of the school district that covers: (a) revenues;
    13  (b) expenditures; (c)  unassigned  fund  balance;  (d)  restricted  fund
    14  balance;  (e)  grant  awards; and (f) capital construction project plan-
    15  ning.
    16    3. A school district must post on its website, if  available,  and  in
    17  five public places in said district, the district's long range financial
    18  plan,  annual  audited  financial  statement,  including  any corrective
    19  action plan as required by section twenty-one hundred sixteen-a of  this
    20  chapter, and adopted annual budget.
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD00541-09-6