What's happening
This bill requires New York school districts to annually develop, publicly post, and update long range financial plans, with possible waivers.
Why it matters
Promotes fiscal transparency and accountability. by requiring school districts to publicly share detailed, multi-year financial plans, enabling taxpayers and stakeholders to better understand how education funds are projected to be used and managed.
Encourages proactive financial planning. by mandating districts consider not just the current year but at least two future years, including revenues, expenditures, fund balances, grants, and capital projects, which could help prevent unexpected shortfalls or fiscal crises.
Empowers community oversight. by making financial plans, audits, and budgets easily accessible online and in public locations, fostering informed community engagement and potentially influencing local education policy decisions.
Provides flexibility for districts facing unique challenges. by allowing waivers if long-range planning would be too burdensome or impractical, recognizing that some districts may have limited resources or special circumstances.
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Who cares
Headline styles
Require School Budget Planning
Plain English, a few words. Used as the page title.
Sponsors
2 Multi-sponsors
History
- 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.
Require School Financial Plans
In Senate Committee · Education · Sponsor David Carlucci
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1060
2017-2018 Regular Sessions
IN ASSEMBLY
January 10, 2017
Introduced by M. of A. PAULIN -- Multi-Sponsored by -- M. of A. BUCHWALD, COOK -- read once and referred to the Committee on Education
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 Assembly, do enact as follows:
Section 1. The education law is amended by adding a new section 3817 to read as follows:
§ 3817. Long range financial plan. 1. Each year, commencing with the proposed budget for the two thousand eighteen--two thousand nineteen school year, the superintendent of schools in consultation with the chief financial officer of each school district, and the board of trustees, shall prepare for approval by the board of trustees a long range financial plan to assist such districts in establishing and planning financial goals and projections.
2. A long range financial plan shall mean a plan that includes information for the current school year and projections for at least the subsequent two years of the school district that covers: (a) revenues; (b) expenditures; (c) unassigned fund balance; (d) restricted fund balance; (e) grant awards; and (f) capital construction project planning.
3. A school district must post on its website, if available, and in five public places in said district, the district's long range financial plan, annual audited financial statement, including any corrective action plan as required by section twenty-one hundred sixteen-a of this chapter, and adopted annual budget.
4. A district may apply to the commissioner for a waiver of the requirement to prepare a long term financial plan under subdivision one of this section, which may be granted at the discretion of the commissioner if the commissioner deems that compliance with such subdivision would be unduly burdensome or impracticable for the school district.
§ 2. This act shall take effect one year after it shall have become a law.
EXPLANATION--Matter in italics (underscored) is new; matter in brackets
[ ] is old law to be omitted.
LBD01071-01-7
Reflowed for reading: line numbers and page breaks removed. Cite the official text.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.