Bill Text: NY A04467 | 2017-2018 | General Assembly | Introduced

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Bill Title: Extends provisions for internal audits by school districts from annually to every five years.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2018-01-03 - referred to education [A04467 Detail]

Download: New_York-2017-A04467-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________
                                          4467
                               2017-2018 Regular Sessions
                   IN ASSEMBLY
                                    February 2, 2017
                                       ___________
        Introduced  by  M.  of  A.  SCHIMMINGER -- read once and referred to the
          Committee on Education
        AN ACT to amend the education law, in relation to  extending  provisions
          for  internal  audits  by school districts from annually to every five
          years
          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:
     1    Section  1.  Subdivisions  1  and 7 of section 2116-b of the education
     2  law, as added by chapter 263 of the laws of 2005, are amended to read as
     3  follows:
     4    1. No later than July first, two thousand six,  each  school  district
     5  shall  establish  an internal audit function to be in operation no later
     6  than the following December thirty-first. Such function  shall  include:
     7  (a)  development  of a risk assessment of district operations, including
     8  but not limited to, a review of financial policies  and  procedures  and
     9  the  testing and evaluation of district internal controls; (b) [an annu-
    10  al] a review and update of such risk assessment; and (c) preparation  of
    11  reports[,  at least annually or more frequently as the trustees or board
    12  of education may direct,]  which  analyze  significant  risk  assessment
    13  findings,  recommend  changes  for  strengthening  controls and reducing
    14  identified risks, and specify  timeframes  for  implementation  of  such
    15  recommendations.    Audits  performed  pursuant to this section shall be
    16  completed every five years.
    17    7. Nothing in this section shall be construed as  requiring  a  school
    18  district  in any city with a population of one hundred twenty-five thou-
    19  sand or more to replace or modify an existing  internal  audit  function
    20  where  such  function already exists by special or local law, so long as
    21  the superintendent of the district [annually] certifies to  the  commis-
    22  sioner  that  the  existing internal audit function meets or exceeds the
    23  requirements of this section;  provided,  however,  notwithstanding  any
         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD06146-01-7
        A. 4467                             2
     1  special  or  local  law  to the contrary, school districts shall perform
     2  such internal audits every five years.
     3    §  2.  This act shall take effect on the first of July next succeeding
     4  the date on which it shall have become a law.