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.
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