1. The board of trustees of a school district, the governing body of a charter school or the governing body of a university school for profoundly gifted pupils that is granted a waiver by the Interim Finance Committee pursuant to NRS 387.2065 shall, upon expiration of the period for which the waiver is granted, provide a written accounting to the Interim Finance Committee and the Department that includes a:

(a) Reconciliation of the revenue and expenditures with the projections of revenue and expenditures that were used to determine whether an economic hardship existed for the school district, charter school or university school; and

(b) Description of how the money from the waiver was used.

2. If the Interim Finance Committee grants a waiver pursuant to NRS 387.2065 and subsequently the economic hardship to the school district, charter school or university school for profoundly gifted pupils is mitigated because the actual revenue attributable to the school district, charter school or university school exceeds projections or the actual expenses incurred by the school district, charter school or university school are less than anticipated:

(a) The amount of the waiver must be reduced accordingly by the school district, charter school or university school; and

(b) The amount of money the school district, charter school or university school is required to expend for textbooks, instructional supplies, instructional software and instructional hardware in the next fiscal year, as determined pursuant to subsection 1 of NRS 387.206, must be adjusted accordingly.

3. If a school district, charter school or university school for profoundly gifted pupils is granted a waiver pursuant to NRS 387.2065, the money that would have otherwise been expended by the school district, charter school or university school for profoundly gifted pupils to meet the requirements of NRS 387.206 for the fiscal year:

(a) May not be considered as financial ability to pay for the purposes of negotiation or arbitration regarding salaries and benefits.

(b) Must not be used to settle or arbitrate disputes or negotiate settlements between an organization that represents licensed employees of the school district, charter school or university school and the school district, charter school or university school.

(c) Must not be used to adjust the schedules of salaries and benefits of the employees of the school district, charter school or university school.

4. For purposes of this section, an economic hardship exists for a school district, charter school or university school for profoundly gifted pupils if:

(a) Projections of revenue do not meet or exceed the revenue anticipated at the time the basic support guarantees are established for the fiscal year pursuant to NRS 387.122; or

(b) The school district, charter school or university school for profoundly gifted pupils incurs unforeseen expenses, including, without limitation, expenses related to a natural disaster.

(Added to NRS by 2009, 907; R 2019, 4253, effective July 1, 2021) — (Substituted in revision for part of NRS 387.2065)