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 now include a summary of estimated funds anticipated from these governmental units, detailing the title or identifier of each fund and any obligations incurred by accepting these funds, or stating that there are none. 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 that include the fund's title and any obligations.

Furthermore, for unanticipated funds under $20,000, the school board must post notice in the meeting agenda and include it in the meeting minutes, which must also detail the fund's title and any obligations. The bill amends existing laws to enhance transparency and accountability regarding the financial dealings of school districts, ensuring that both anticipated and unanticipated funds are properly reported and discussed in public forums. The act will take effect 60 days after its passage.

Statutes affected:
Introduced: 198:20-
As Amended by the House: 198:4, 198:20-
Version adopted by both bodies: 198:4, 198:20-
CHAPTERED FINAL VERSION: 198:4, 198:20-b