By Ms. Richardson of Framingham, petition (accompanied by bill, House, No. 531) of Pam Richardson and others for legislation to further standardize accounting methods for charter schools.  Education.

 

The Commonwealth of Massachusetts

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PETITION OF:

 

Pam Richardson

John W. Scibak

Tom Sannicandro

Carl M. Sciortino, Jr.

John V. Fernandes

Benjamin Swan

Barbara A. L'Italien

Michael E. Festa

James E. Timilty

Stephen L. DiNatale

Anne M. Gobi

Thomas M. Stanley

John P. Fresolo

 

 

 

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In the Year Two Thousand and Seven.

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 An Act to further standardize accounting methods for charter schools.

 

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

 

SECTION 1. Section 89 of  Chapter 71 of the General Laws is hereby amended by adding at the end thereof the following section:–

Section (ss): "If in any fiscal year a commonwealth charter school’s actual operating costs for education, excluding depreciation charges, federal, state or private grants or contributions, are less than the tuition payments received pursuant to Chapter 71, section 89, paragraph (nn), the difference, up to 5 percent of the tuition amounts shall be spent for education in the following fiscal year.  The state treasurer is hereby authorized and directed to deduct any unexpended tuition funds in excess of 5 per cent from payments in the following fiscal year and is further authorized and directed to restore and distribute the deducted amounts to the Chapter 70 education aid to school districts where the students reside.  The board of education shall adopt regulations to enforce the provisions of this section.

SECTION 2. Section 89 subparagraph (hh) is hereby the amended by adding at the end thereof the following sentence:–

Further, each charter school shall keep an End of Year Pupil and Financial Report with substantially the same format and content as is required for public school districts and shall file the report with the department of education and with the auditor by September 30 of each year. >>