New York A07674 allows special education services and programs for preschool children with handicapping conditions to establish reserve funds.

New York A07674 amends the education law to permit special education services and programs for preschool children with handicapping conditions to establish reserve funds. Institutions can retain funds in excess of allowable and reimbursable costs for the school year, up to one percent of total costs annually and four percent in total. These funds can be used for prior year debts and must be reported annually. The act takes effect on July 1 following its enactment.

New York A07674 allows special education services and programs for preschool children with handicapping conditions to establish reserve funds.

New York A07674 amends the education law to permit special education services and programs for preschool children with handicapping conditions to establish reserve funds. Institutions can retain funds in excess of allowable and reimbursable costs for the school year, up to one percent of total costs annually and four percent in total. These funds can be used for prior year debts and must be reported annually. The act takes effect on July 1 following its enactment.