New York A02644 allows school districts to create a reserve fund for unexpected pupil transportation costs exceeding public funds.

New York A02644 amends the education law to allow any school district to establish a reserve fund for unanticipated costs related to pupil transportation, over and above public funds allocated for such purposes. This fund requires approval from a majority of qualified voters in the district. The bill also allows districts with such a fund to spend from it without voter authorization and permits voters to authorize transfers of funds to other reserve funds. The changes take effect immediately.

New York A02644 allows school districts to create a reserve fund for unexpected pupil transportation costs exceeding public funds.

New York A02644 amends the education law to allow any school district to establish a reserve fund for unanticipated costs related to pupil transportation, over and above public funds allocated for such purposes. This fund requires approval from a majority of qualified voters in the district. The bill also allows districts with such a fund to spend from it without voter authorization and permits voters to authorize transfers of funds to other reserve funds. The changes take effect immediately.