Bill Text: NY S01051 | 2015-2016 | 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 (Republican 7-0)

Status: (Engrossed - Dead) 2016-06-08 - referred to education [S01051 Detail]

Download: New_York-2015-S01051-Introduced.html

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                           S T A T E   O F   N E W   Y O R K
       ________________________________________________________________________
                                         1051
                              2015-2016 Regular Sessions
                                   I N  S E N A T E
                                    January 8, 2015
                                      ___________
       Introduced   by   Sens.   RANZENHOFER,  DeFRANCISCO,  GALLIVAN,  LARKIN,
         MARCHIONE, SEWARD -- read twice and ordered printed, and when  printed
         to be committed 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.
                                                                  LBD02207-01-5
       S. 1051                             2
    1  SPECIAL OR LOCAL LAW TO THE CONTRARY,  SCHOOL  DISTRICTS  SHALL  PERFORM
    2  SUCH INTERNAL AUDITS EVERY FIVE YEARS.
    3    S  2.  This act shall take effect on the first of July next succeeding
    4  the date on which it shall have become a law.