Bill > S06622

This bill allows school districts to establish a new type of reserve fund specifically for special services or programs, with several important stipulations. The school district's board of education can create this reserve fund without requiring additional voter approval, but the total amount in the fund cannot exceed 10% of other existing reserve funds. The board must determine the fund's total amount, probable duration, and funding sources when establishing it, and can direct school authorities to contribute money from various sources. The board can also make a one-time transfer from other protected reserves to initially fund this new reserve. The bill defines "special services or programs" by referencing another section of education law, and notably allows the school district to make expenditures from this reserve fund without requiring voter authorization. This legislation provides school districts with more financial flexibility in managing funds for specific educational services or programs, giving the board of education greater autonomy in budgeting and resource allocation.

Education

https://www.nysenate.gov/legislation/bills/2025/S6622