Bill > A07904

This bill amends the education law to allow school districts to create a new type of reserve fund specifically for special services or programs, with several key provisions. School districts can establish this reserve fund upon board of education approval, without requiring additional voter approval, but the fund cannot exceed 10% of the district's existing reserve funds. The board of education must determine the fund's total amount, probable duration, and funding sources, and can allocate annual funds to support the reserve. The board also has the flexibility to transfer funds from other protected reserves to initially fund this new reserve. Expenditures from this reserve fund can be made without voter authorization, specifically for special services or programs as defined in another section of education law. The bill provides school districts with more financial autonomy in managing and allocating funds for specific educational services and programs, giving them greater flexibility in budgeting and resource allocation.

Education

https://www.nysenate.gov/legislation/bills/2025/A7904