S.4717

Establishes additional financial oversight and reporting procedures for school districts in New Jersey.

This bill establishes additional procedures for financial oversight and reporting to ensure fiscal stability of school districts in New Jersey. It mandates monthly reconciliations of bank account statements and payroll records by the chief school administrator. The bill requires the school business administrator to certify financial commitments and object in writing if sufficient funds are not available or if the commitment may create a structural deficit. The board of education must acknowledge any objections in its minutes.