2024 -- S 3098 | |
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LC006184 | |
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STATE OF RHODE ISLAND | |
IN GENERAL ASSEMBLY | |
JANUARY SESSION, A.D. 2024 | |
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A N A C T | |
RELATING TO EDUCATION -- TIVERTON SCHOOL COMMITTEE FINANCIAL | |
REPORTS ACT | |
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Introduced By: Senators DiPalma, and Felag | |
Date Introduced: May 29, 2024 | |
Referred To: Senate Finance | |
(by request) | |
It is enacted by the General Assembly as follows: | |
1 | SECTION 1. Title 16 of the General Laws entitled "EDUCATION" is hereby amended by |
2 | adding thereto the following chapter: |
3 | CHAPTER 114 |
4 | TIVERTON SCHOOL COMMITTEE FINANCIAL REPORTS ACT |
5 | 16-114-1. Short title. |
6 | This chapter shall be known and may be cited as the "Tiverton School Committee Financial |
7 | Reports Act". |
8 | 16-114-2. Definitions. |
9 | For purposes of this chapter, the following words and terms shall have the following |
10 | meanings: |
11 | (1) "Expenditure" means the outflow of cash or other assets in order to make purchases. |
12 | (2) "Expenses" means the cost of goods and services used in the process of conducting |
13 | operations or to generate revenue. |
14 | (3) "Revenues" means the value of any income, funds, money, assets or property received |
15 | except by purchase for fair market value. |
16 | 16-114-3. Tiverton school committee. |
17 | (a) Notwithstanding any general or special law to the contrary, the town of Tiverton, by |
18 | ordinance, may require the school committee of the town of Tiverton to provide monthly financial |
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1 | reports to the chief financial officer of the town and/or to other town officials. |
2 | (b) The financial reports required pursuant to subsection (a) of this section shall, at a |
3 | minimum, include actual expenses and expenditures; where applicable, the identification of the |
4 | category in the budget where the expenses or expenditures are designated; whether the expenses or |
5 | expenditures were routine, emergency, fixed, variable, intermittent or discretionary; the current |
6 | fund and budget balance; and a summary of any received revenue. The report shall contain any |
7 | additional information as required by the town of Tiverton. |
8 | (c) The town of Tiverton is authorized to require the reports be provided on a regularly |
9 | scheduled basis of not less than monthly and produced not less than fifteen (15) days after |
10 | expiration of the period for which the report is due. |
11 | SECTION 2. Chapter 45-6 of the General Laws entitled "Ordinances" is hereby amended |
12 | by adding thereto the following section: |
13 | 45-6-13. Quasi-municipal entities in Tiverton -- financial reports. |
14 | (a) Notwithstanding any general or special law to the contrary, the town of Tiverton, by |
15 | ordinance, may require the quasi-municipal entities in the town of Tiverton to provide monthly |
16 | financial reports to the chief financial officer of the town and/or to other town officials. |
17 | (b) The financial reports required pursuant to subsection (a) of this section shall, at a |
18 | minimum, include actual expenses and expenditures; where applicable, the identification of the |
19 | category in the budget where the expenses or expenditures are designated; whether the expenses or |
20 | expenditures were routine, emergency, fixed, variable, intermittent or discretionary; the current |
21 | fund and budget balance; and a summary of any received revenue. The report shall contain any |
22 | additional information as required by the town of Tiverton. |
23 | (c) The town of Tiverton is authorized to require the reports be provided on a regularly |
24 | scheduled basis of not less than monthly and produced not less than fifteen (15) days after |
25 | expiration of the period for which the report is due. |
26 | (d) For purposes of this section the terms "expenditure", "expenses" and "revenues" shall |
27 | have the same meaning as defined in ยง 16-114-2. |
28 | SECTION 3. This act shall take effect upon passage. |
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LC006184 | |
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EXPLANATION | |
BY THE LEGISLATIVE COUNCIL | |
OF | |
A N A C T | |
RELATING TO EDUCATION -- TIVERTON SCHOOL COMMITTEE FINANCIAL | |
REPORTS ACT | |
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1 | This act would authorize the Town of Tiverton to require the school committee and quasi- |
2 | municipal entities to provide regular financial reports to the chief financial officer or other |
3 | designated town official. |
4 | This act would take effect upon passage. |
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LC006184 | |
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