This bill mandates that all funds received by school districts from state or federal government units must be disclosed in the school board's annual report or during public hearings regarding unanticipated funds. Specifically, the annual report must include a summary of estimated funds expected from these governmental units, detailing the title or identifier of each fund and any obligations incurred by accepting these funds. Additionally, any funds not disclosed in the annual report will be classified as unanticipated money, requiring public hearings for amounts of $20,000 or more, with specific notice requirements regarding the fund's title and obligations.

The bill amends existing laws to enhance transparency and accountability in the financial dealings of school districts. It specifies that for unanticipated funds under $20,000, the school board must include information in the meeting agenda and minutes, ensuring that the title of the fund and any obligations are clearly stated. The changes aim to ensure that school boards operate with greater oversight and that the public is informed about the financial resources and obligations of their local school districts. The act will take effect 60 days after its passage.

Statutes affected:
Introduced: 198:20-
As Amended by the House: 198:4, 198:20-