Stricken language would be deleted from and underlined language would be added to present law.
Act 69 of the Regular Session
1 State of Arkansas
2 93rd General Assembly A Bill
3 Regular Session, 2021 SENATE BILL 100
4
5 By: Senator Irvin
6 By: Representative Lowery
7
8 For An Act To Be Entitled
9 AN ACT TO ENHANCE HIGHER EDUCATION FISCAL
10 ACCOUNTABILITY AND TRANSPARENCY; TO AMEND PROVISIONS
11 OF THE ARKANSAS CODE CONCERNING STUDENT ACCOUNTS
12 RECEIVABLE POLICIES AND CERTAIN FINANCIAL CONDITION
13 REPORTS; AND FOR OTHER PURPOSES.
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15
16 Subtitle
17 TO ENHANCE HIGHER EDUCATION FISCAL
18 ACCOUNTABILITY AND TRANSPARENCY; AND TO
19 AMEND PROVISIONS OF THE ARKANSAS CODE
20 CONCERNING STUDENT ACCOUNTS RECEIVABLE
21 POLICIES AND CERTAIN FINANCIAL CONDITION
22 REPORTS.
23
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25 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF ARKANSAS:
26
27 SECTION 1. Arkansas Code Title 6, Chapter 60, Subchapter 1, is amended
28 to add an additional section to read as follows:
29 6-60-113. Enhancement of accountability and transparency at state-
30 supported institutions of higher education.
31 (a) The Division of Higher Education shall maintain a link to the
32 website of each state-supported institution of higher education on the
33 division's website.
34 (b) To further enhance accountability and transparency at each state-
35 supported institution of higher education, the following information shall be
36 maintained on the website of each state-supported institution of higher
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1 education:
2 (1) The name and email address of each member of the governing
3 board of the state-supported institution of higher education;
4 (2) The date and location of each meeting of the governing
5 board;
6 (3) The agenda and minutes of each meeting of the governing
7 board;
8 (4) The annual audit report presented to the Legislative Joint
9 Auditing Committee; and
10 (5) The conflict of interest and commitment policy of the
11 governing board.
12
13 SECTION 2. Arkansas Code 6-61-131 is amended to read as follows:
14 6-61-131. Student accounts receivable policies at two-year state-
15 supported institutions of higher education Definition.
16 (a) As used in this section, two-year institution of higher
17 education means:
18 (1) A state-supported two-year institution of higher education;
19 or
20 (2) A two-year branch campus of a four-year institution of
21 higher education.
22 (b)(a) A two-year state-supported institution of higher education
23 shall:
24 (1) Develop and adopt policies concerning:
25 (A)(i) Student accounts receivable.
26 (ii) A student accounts receivable aging report
27 shall be provided annually to the governing board of the state-supported
28 institution of higher education;
29 (B) The collection of delinquent accounts; and
30 (C) The prevention of students with long-standing
31 delinquent account balances from registering for courses or completing
32 courses; and
33 (2)(A) Review its policies and practices to ensure its
34 compliance with census reporting guidelines promulgated by the Division of
35 Higher Education.
36 (B) A review under this subdivision (b)(2) subdivision
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1 (a)(2) shall occur at the beginning of each fall semester.
2 (c)(b) A policy developed under subdivision (b)(1) subdivision (a)(1)
3 of this section shall be published in the student handbook of the state-
4 supported institution of higher education and on the website of the state-
5 supported institution of higher education.:
6 (1) Issued in written form by the two-year institution of higher
7 education;
8 (2) Published in the two-year institution of higher education's
9 student handbook and on its website; and
10 (3) Filed with the division no later than thirty (30) days after
11 the adoption of the policy.
12 (c) The Arkansas Higher Education Coordinating Board shall develop
13 rules to implement this section.
14
15 SECTION 3. Arkansas Code 6-61-222(b)(1)(L) and (M), concerning
16 financial condition reports, are amended to read as follows:
17 (L) Gross federal income; and
18 (M) Total student accounts receivable and an aging report
19 in accordance with 6-61-131;
20 (N) A calculation of the number of days of cash on hand in
21 accordance with 6-62-109; and
22 (O) Any other information requested by the division or the
23 board.
24
25 SECTION 4. Arkansas Code 6-62-109 is amended to read as follows:
26 6-62-109. Annual certification of solvency Calculation of number of
27 days of cash on hand.
28 (a) Annually, the board of trustees and the president or chancellor of
29 each state-supported institution of higher education shall certify to the
30 Chief Fiscal Officer of the State and the Legislative Council that as of
31 December 31, sufficient appropriations and funds:
32 (1) Are available to meet all current and anticipated
33 obligations for the current fiscal year as the obligations become due; or
34 (2) Will become available to meet all current and anticipated
35 obligations for the current fiscal year as the obligations become due.
36 (b) The certification from each state-supported institution of higher
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1 education shall be:
2 (1) Signed by the chair of the board of trustees and the
3 president or chancellor;
4 (2) Sent no later than February 28 or upon release of the
5 previous year's audit by the Division of Arkansas Legislative Audit to the
6 Chief Fiscal Officer of the State and the Legislative Council; and
7 (3) Accompanied by the published annual financial statement for
8 the preceding fiscal year approved by the board of trustees; and
9 (4)(A) Accompanied by a calculation of the number of days of
10 cash-on-hand prepared by the chief financial officer of each state-supported
11 institution of higher education for the preceding fiscal year.
12 (B) Subdivision (b)(4)(A) of this section does not apply
13 to the University of Arkansas for Medical Sciences.
14 (c) The Arkansas Higher Education Coordinating Board shall develop
15 rules to implement this section.
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18 APPROVED: 2/4/21
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Statutes affected:
SB 100: 6-61-131, 6-61-222(b)
Act 69: 6-61-131, 6-61-222(b)