This bill amends current law regarding the appropriation of unanticipated funds for school districts by establishing that all funds disbursed from a federal government unit will be classified as unanticipated money. Specifically, it inserts language stating that "All funds disbursed from a federal governmental unit shall be deemed to be unanticipated money under the provisions of this section." Additionally, it clarifies that funds from the education trust fund will not be considered unanticipated money, maintaining the existing prohibition on such funds.

Furthermore, the bill mandates that notices for public hearings regarding unanticipated funds of $20,000 or more must include a summary of any obligations incurred by accepting these funds. It also requires that the minutes from school board meetings discussing unanticipated funds, regardless of the amount, must contain a summary of any obligations incurred or state that there are none. This new requirement aims to enhance transparency and accountability in the acceptance of federal funds by school districts. The bill will take effect 60 days after its passage.

Statutes affected:
Introduced: 198:20-