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

     

     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:

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     SECTION 1. Title 16 of the General Laws entitled "EDUCATION" is hereby amended by

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adding thereto the following chapter:

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CHAPTER 114

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TIVERTON SCHOOL COMMITTEE FINANCIAL REPORTS ACT

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     16-114-1. Short title.

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     This chapter shall be known and may be cited as the "Tiverton School Committee Financial

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Reports Act".

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     16-114-2. Definitions.

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     For purposes of this chapter, the following words and terms shall have the following

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meanings:

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     (1) "Expenditure" means the outflow of cash or other assets in order to make purchases.

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     (2) "Expenses" means the cost of goods and services used in the process of conducting

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operations or to generate revenue.

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     (3) "Revenues" means the value of any income, funds, money, assets or property received

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except by purchase for fair market value.

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     16-114-3. Tiverton school committee.

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     (a) Notwithstanding any general or special law to the contrary, the town of Tiverton, by

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ordinance, may require the school committee of the town of Tiverton to provide monthly financial

 

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reports to the chief financial officer of the town and/or to other town officials.

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     (b) The financial reports required pursuant to subsection (a) of this section shall, at a

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minimum, include actual expenses and expenditures; where applicable, the identification of the

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category in the budget where the expenses or expenditures are designated; whether the expenses or

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expenditures were routine, emergency, fixed, variable, intermittent or discretionary; the current

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fund and budget balance; and a summary of any received revenue. The report shall contain any

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additional information as required by the town of Tiverton.

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     (c) The town of Tiverton is authorized to require the reports be provided on a regularly

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scheduled basis of not less than monthly and produced not less than fifteen (15) days after

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expiration of the period for which the report is due.

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     SECTION 2. Chapter 45-6 of the General Laws entitled "Ordinances" is hereby amended

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by adding thereto the following section:

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     45-6-13. Quasi-municipal entities in Tiverton -- financial reports.

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     (a) Notwithstanding any general or special law to the contrary, the town of Tiverton, by

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ordinance, may require the quasi-municipal entities in the town of Tiverton to provide monthly

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financial reports to the chief financial officer of the town and/or to other town officials.

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     (b) The financial reports required pursuant to subsection (a) of this section shall, at a

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minimum, include actual expenses and expenditures; where applicable, the identification of the

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category in the budget where the expenses or expenditures are designated; whether the expenses or

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expenditures were routine, emergency, fixed, variable, intermittent or discretionary; the current

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fund and budget balance; and a summary of any received revenue. The report shall contain any

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additional information as required by the town of Tiverton.

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     (c) The town of Tiverton is authorized to require the reports be provided on a regularly

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scheduled basis of not less than monthly and produced not less than fifteen (15) days after

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expiration of the period for which the report is due.

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     (d) For purposes of this section the terms "expenditure", "expenses" and "revenues" shall

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have the same meaning as defined in ยง 16-114-2.

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     SECTION 3. This act shall take effect upon passage.

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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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     This act would authorize the Town of Tiverton to require the school committee and quasi-

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municipal entities to provide regular financial reports to the chief financial officer or other

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designated town official.

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     This act would take effect upon passage.

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LC006184

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