What's happening
Writing a plain-English summary… Track this bill to get it by email.
Why it matters
Albany, before your first meeting.
Every bill that moved yesterday, summarized in a sentence and ranked by impact. The Albany Scorecard follows on Sundays.
Free. Unsubscribe in one click. Want alerts on specific bills? Create an account.
Who cares
Headline styles
Sponsors
Senator · Senate District 38
No co-sponsors yet.
History
- Print number 5456b
- Amend and recommit to education
- Print number 5456a
- Amend (t) and recommit to education
- Referred to education
- Referred to education
Companion bill
The same bill in the other chamber. A bill becomes law when one version passes both houses and the governor signs it, so either number can carry it.
Establishes the school district financial accountability act
In Assembly Committee · Education · Sponsor Amy Paulin
Full text
The text isn't available here yet. Check nysenate.gov.
Sponsor's memo
BILL NUMBER:S5456B
Title of bill
An act to amend the education law, in relation to establishing the school district financial accountability act
Purpose
To require that school districts develop and adopt five-year long range financial plans and increase transparency regarding a school district's fiscal condition.
Summary of provisions
Section 1 of the bill adds a new Article 78 to the Education Law entitled the "School District Fiscal Accountability Act" which requires school districts to develop and adopt five-year long range financial plans and post these plans along with their audited financial statements and adopted annual budgets on their websites.
Section 2 provides the effective date.
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. Many, but not all, school districts put together long range financial plans developed by their chief financial officer or chief business official.
Proper long range financial planning performed by staff with the necessary fiscal expertise is critical to insuring that school districts have the resources necessary to prepare their students to be college and career ready.
Legislative history
New bill.
Fiscal implications
None
Effective date
This act shall take effect one year after it shall have become a law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.