Establishes an energy reserve fund for school districts and boards of cooperative educational services.
TITLE OF BILL: An act to amend the education law, in relation to establishing an energy reserve fund for school districts and boards of cooperative educational services
Allows school districts and boards of cooperative educational services to establish a separate fund to provide a reserve for excess energy costs.
Section 3651 of the education law is amended to authorize any school district to establish an energy reserve fund for the payment of energy costs and that any reserve funds not expended in that fiscal year may be transferred to another reserve fund or applied to the appropriations of next fiscal year's budget.
For the past several years many school districts have faced an increasing difficult time in paying for the high cost of energy. Energy costs have fluctuated greatly and are making it very difficult for school districts to plan for the rising energy costs. This bill would allow school districts to create an energy reserve fund, which would allow school districts to accumulate funds to pay for the excess costs of energy from this fund. Currently, school districts are allowed to have thirteen other reserve funds for purposes such as Capital, Worker's Compensation, Tax Certioriari and Liability Reserve, among others.
S.517/A.246 of 2011/2012; Referred to Education S.6933/A.961 of 2009/2010; Referred to Education S.8448 - 2008 - Referred to Rules Committee
STATE OF NEW YORK ________________________________________________________________________ 1092 2013-2014 Regular Sessions IN SENATE (PREFILED) January 9, 2013 ___________Introduced by Sens. MAZIARZ, GALLIVAN, GRISANTI, LARKIN -- read twice and ordered printed, and when printed to be committed to the Committee on Education AN ACT to amend the education law, in relation to establishing an energy reserve fund for school districts and boards of cooperative educa- tional services THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM- BLY, DO ENACT AS FOLLOWS: Section 1. Section 3651 of the education law is amended by adding a new subdivision 1-c to read as follows: 1-C. NOTWITHSTANDING THE PROVISIONS OF SUBDIVISION ONE OF THIS SECTION, ANY SCHOOL DISTRICT MAY ESTABLISH AN ENERGY RESERVE FUND FOR THE PAYMENT OF ENERGY COSTS, WITHOUT APPROVAL BY THE QUALIFIED VOTERS OF THE DISTRICT. ANY MONIES DEPOSITED TO SUCH ENERGY RESERVE FUND WHICH ARE NOT EXPENDED FOR THE PAYMENT OF ENERGY COSTS IN THE FISCAL YEAR THAT THE FUNDS ARE DEPOSITED IN THE ENERGY RESERVE FUND MAY BE EITHER TRANSFERRED TO ANOTHER RESERVE FUND OR APPLIED TO THE APPROPRIATIONS OF THE NEXT SUCCEEDING FISCAL YEAR'S BUDGET. S 2. Subdivision 3-a of section 3651 of the education law, as added by chapter 588 of the laws of 1988, is amended to read as follows: 3-a. Notwithstanding the provisions of subdivision three of this section, any school district which establishes a reserve fund in accord- ance with subdivision one-a OR ONE-C of this section may make expendi- tures from such fund for the purposes specified in such
[subdivision]SUBDIVISIONS without authorization of the voters. S 3. This act shall take effect immediately.EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets [ ] is old law to be omitted. LBD02094-01-3