What's happening
This bill requires New York school districts to annually develop and publicly post long-range financial plans, with possible waivers for hardship.
Why it matters
Increases transparency and accountability. By requiring districts to publicly post long-range financial plans, annual audited statements, and budgets, this bill gives community members and stakeholders clearer insight into how schools manage public funds and plan for the future.
Supports better fiscal management and planning. Districts must forecast revenues, expenditures, fund balances, grants, and capital projects for at least two years ahead, encouraging more strategic, long-term decision-making rather than year-to-year budgeting.
Potentially impacts educational priorities. The need to formally project financial needs and goals may influence how districts prioritize programs, staffing, and facilities, possibly leading to more stable and predictable educational services.
Includes flexibility for districts facing hardship. The waiver option acknowledges that some districts might face unique challenges, ensuring that the mandate does not impose unreasonable burdens on those with limited resources or administrative capacity.
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Who cares
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Require School Financial Plans
Plain English, a few words. Used as the page title.
Sponsors
No co-sponsors yet.
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 Budget Planning
In Assembly Committee · Education · Sponsor Amy Paulin
Full text
1 pageUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗
STATE OF NEW YORK
1651
2017-2018 Regular Sessions
IN SENATE
January 10, 2017
Introduced by Sen. CARLUCCI -- read twice and ordered printed, and when printed to be committed 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.
Sponsor's memo
Title of bill
An act to amend the education law, in relation to long range financial planning for school districts
Summary of specific provisions
A new section 3817 of the Education Law is added, entitled the long range financial plan. It requires school districts to develop and adopt three year long range financial plans and post these plans along with their audited financial statements and adopted annual budgets on their websites.
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.
Proper long range financial planning is critical to insuring that school districts have the resources necessary to prepare their students to be college and career ready.
Legislative history
2015-16: S5236B/A29C - Education/ways and means A.7196 of 2013 and 2014, referred to education. Same as S.5456 of 2013 and 2014, referred to education.
Fiscal implications
None.
Effective date
One year after its becoming law.
Summaries, headlines and scores are AI-generated from the official bill text. How we score bills. Source: NYS Open Legislation.