Skip to content
A485Assembly2019-2020 Session

Require Multiyear School Financial Plans

Official title

“Relates to long range financial planning for school districts”

Sponsor Amy PaulinAD-88Affects Education
Status
In Assembly Committee
Education
Impact
5/10
Moderate
Passage
0%

Bill progress

Step 2 of 7

In committee · Education

What's happening

This bill requires school districts to prepare multiyear financial plans and publicly post financial records.

Why it matters

  1. Statewide planning. Each district would prepare an annual plan covering the current school year and at least two subsequent years, including revenues, spending, fund balances, grants and capital construction.

  2. Public access. Districts would post plans, audited financial statements, required corrective action plans and adopted budgets on available district websites and in five public places.

  3. Approval and exceptions. Superintendents would prepare plans in consultation with chief financial officers and boards of trustees, for board approval. The education commissioner could waive planning requirements deemed unduly burdensome or impracticable.

The daily · weekday mornings

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

  • School superintendents and chief financial officers

    They would take on annual multiyear financial planning responsibilities.

  • School district boards of trustees

    They would participate in preparing plans and be responsible for approving them.

  • District residents

    They would gain public access to financial projections, budgets and audit records through required postings.

  • Education commissioner

    The commissioner would decide whether districts qualify for waivers of the planning requirement.

Headline styles

Require Multiyear School Financial Plans

Plain English, a few words. Used as the page title.

Sponsors

Primary sponsor
Amy Paulin

Assembly Member · Assembly District 88

Chair, Health

History

  1. Referred to education
  2. Referred to education

Full text

2 pagesUnderlined is new[Struck] is removedOfficial text on nysenate.gov ↗

STATE OF NEW YORK

485

2019-2020 Regular Sessions

IN ASSEMBLY (Prefiled)

January 9, 2019

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 twenty--two thousand twenty-one 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 commis-

EXPLANATION--Matter in italics (underscored) is new; matter in brackets

[ ] is old law to be omitted.

LBD03713-01-9

A. 485 2

sioner 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.

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.