AN ACT relating to school district finances.

Create a new section of KRS Chapter 160 to establish the calendar and procedures for a district superintendent and local board of education to adopt a school district budget; require that a budget must include a reserve of not less than 2%; amend KRS 160.431 to require the annual financial report and the Kentucky Department of Education's written report be published on the district financial disclosure website; amend KRS 160.463 to require a school district…

Boards and Commissions Budget and Financial Administration Education, Elementary and Secondary Education, Finance Public Records and Reports Publications

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This bill sets new rules for how Kentucky school districts create and manage their budgets, including a requirement that districts keep a financial reserve of at least 2%. It also requires school districts to maintain a public website where financial reports and other budget information are posted and kept up to date. Who it may affect: parents, taxpayers, and anyone interested in how local school district money is managed.

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