Bill > A447

This bill authorizes the establishment of a charter school payment reserve account in school districts. In cases where a school district's budgeted amount for charter school payments is less than the projected payment determined by the Department of Education, the funds in the reserve account can be used to finance the increase in payments due to charter schools. The school district can appropriate funds to establish or supplement the reserve account in its annual budget or through a year-end transfer of unanticipated revenue and unexpended line-item appropriation amounts. The reserve account is not subject to a specific limit, and any interest earned on the investments can be transferred to the general fund.

Education

https://www.njleg.state.nj.us/bill-search/2024/A447