§70-5-151. Purpose.
92 words·~1 min read·
/ok/title-70-schools/70-5-151A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purpose of the School District Budget Act is to provide an alternate budget procedure for school districts which will:
1. Establish standard and sound fiscal procedures for the adoption and administration of budgets;
2. Make available to the public and investors sufficient information as to the financial conditions, requirements and expectations of the school district; and
3. Assist school districts to improve and implement generally accepted standards of financial management as promulgated by the Governmental Accounting Standards Board (GASB). Added by Laws 1996, c. 178, § 3, eff. July 1, 1996.