NY Educ L § 2590-M (2021)
2021 New York Laws EDN - Education Title 2 - School District Organization Article 52-A - New York City Community School District System 2590-M - Custody and Disbursement of Funds.

§ 2590-m. Custody  and  disbursement  of  funds.  * 1.  Public  moneys   apportioned to the city district by the state and all  funds  raised  or   collected  by  the authorities of such city for school purposes or to be   used by the city board  or  by  any  community  board  for  any  purpose   authorized  by  this  chapter,  or any other funds belonging to the city   district or a community district and received from any source whatsoever   for school purposes, shall be paid into the city treasury and  shall  be   credited to the city board or to the respective community councils.* NB Effective until June 30, 2022* 1.  Public  moneys apportioned to the city district by the state and   all funds raised or collected by the authorities of such city for school   purposes or to be used by the city board or by any community  board  for   any  purpose authorized by this chapter, or any other funds belonging to   the city district or a community district and received from  any  source   whatsoever for school purposes, shall be paid into the city treasury and   shall  be  credited  to  the  city  board or to the respective community   boards.* NB Effective June 30, 20222. The fund so received into such treasury shall be kept separate  and   distinct  from  any  other  funds  received  therein. The officer having   charge thereof shall give such additional security for the safe  custody   thereof  as  the  corporate  authorities  of  the city of New York shall   require.* 3. a. Funds credited to the  city  board  shall  be  disbursed  upon   written  orders  of  the  director  of finance of the city signed by the   chancellor  or  such  other  officer  or  officers  as  the  city  board   authorize. Funds credited to a community council shall be disbursed upon   written  orders  of  the  director  of finance of the city signed by the   community superintendent and such other  officer  or  officers  as  such   board may authorize.b.  If  an  auditor shall have been appointed by the chancellor or any   community district education council, such orders  shall  be  signed  by   such  auditor;  provided,  however,  that  the  chancellor  and any such   district education council may in addition require the signature of such   other officer or officers as  the  chancellor  may  direct  or  as  such   district education council may by resolution direct.c.  Orders issued under this subdivision shall specify the purpose for   which they are drawn and the person to whom they are payable.* NB Effective until June 30, 2022* 3. a. Funds credited to the  city  board  shall  be  disbursed  upon   written  orders  of  the  director  of finance of the city signed by the   chancellor  or  such  other  officer  or  officers  as  the  city  board   authorize.  Funds  credited to a community board shall be disbursed upon   written orders of the director of finance of  the  city  signed  by  the   community  superintendent  and  such  other  officer or officers as such   board may authorize.b. If an auditor shall have been appointed by the city  board  or  any   community  board, such orders shall be signed by such auditor; provided,   however, that the city board and any such board may in addition  require   the  signature of such other officer or officers as it may by resolution   direct.c. Orders issued under this subdivision shall specify the purpose  for   which they are drawn and the person to whom they are payable.* NB Effective June 30, 2022* 4.  a.  It shall be unlawful for the director of finance of the city   to permit any funds placed in his custody under the provisions  of  this   section  to  be  used for any purpose other than that for which they are   lawfully authorized. b. Such funds shall be paid out  only  on  audit  of  the  city  board   through  the chancellor or the community council to which such funds are   credited, except as otherwise  provided  in  subdivision  five  of  this   section.c. Payments from such funds shall be made only by checks signed by the   director  of  finance  of  the  city  and payable to the person entitled   thereto and countersigned by the comptroller of the city of New York.* NB Effective until June 30, 2022* 4. a. It shall be unlawful for the director of finance of  the  city   to  permit  any funds placed in his custody under the provisions of this   section to be used for any purpose other than that for  which  they  are   lawfully authorized.b.  Such  funds  shall  be  paid  out  only on audit of the city board   through the chancellor or the community board to which  such  funds  are   credited,  except  as  otherwise  provided  in  subdivision five of this   section.c. Payments from such funds shall be made only by checks signed by the   director of finance of the city  and  payable  to  the  person  entitled   thereto and countersigned by the comptroller of the city of New York.* NB Effective June 30, 2022* 5.  Fixed  salaries,  principal  of and interest on indebtedness and   amounts becoming due upon lawful contracts  for  periods  exceeding  one   year  may  be  disbursed  without  prior  audit by the city board or the   council to which such funds are credited.* NB Effective until June 30, 2022* 5. Fixed salaries, principal of and  interest  on  indebtedness  and   amounts  becoming  due  upon  lawful contracts for periods exceeding one   year may be disbursed without prior audit by the city board or the board   to which such funds are credited.* NB Effective June 30, 2022* 6. The chancellor, city board and each  district  education  council   referred   to   in   this  section  shall  make,  in  addition  to  such   classification  of  its  funds  as  it  desires  for  its  own  use  and   information, such further classification of the funds credited to it and   of  the  disbursement thereof as the comptroller of the city of New York   shall require; provided that the classification of  funds  by  community   councils  shall  be  in  accordance with the altered schedules developed   pursuant to subdivision eight of section twenty-five hundred ninety-i of   this  article.  The  chancellor,  city  board  and  community   district   education councils shall furnish such data in relation to such funds and   their  disbursements  as  the  comptroller of the city of New York shall   require.* NB Effective until June 30, 2022* 6. The city board and each board referred to in this  section  shall   make,  in addition to such classification of its funds as it desires for   its own use and information, such further classification  of  the  funds   credited to it and of the disbursement thereof as the comptroller of the   city  of  New  York  shall  require; provided that the classification of   funds by community boards  shall  be  in  accordance  with  the  altered   schedules developed pursuant to subdivision eight of section twenty-five   hundred  ninety-i  of  this article. The city board and community boards   shall  furnish  such  data  in  relation  to  such   funds   and   their   disbursements as the comptroller of the city of New York shall require.* NB Effective June 30, 20227. The comptroller of the city of New York shall audit the accounts of   the  city  board  and  each  community  district,  and,  subject to laws   safeguarding the disclosure of individual information, make  public  the   results  of  such  audits, at least once every four years; provided that    this section shall not limit the obligations  of  the  school  districts   pursuant  to  section  twenty-one hundred sixteen-a of this chapter. The   comptroller of the city of New York shall be entitled to the cooperation   of the commissioner of finance of the city of New York, the chief fiscal   investigations  officer  and the internal auditors appointed pursuant to   subdivision thirty-seven of section twenty-five hundred ninety-h of this   article.* 8. Notwithstanding any provision of law to the contrary, the  powers   and  duties  conferred on a community district education council by this   section shall be exercised exclusively by the  community  superintendent   employed by such council.* NB Effective until June 30, 2022* 8.  Notwithstanding any provision of law to the contrary, the powers   and duties conferred on a community school board by this  section  shall   be  exercised  exclusively  by  the community superintendent employed by   such board.* NB Effective June 30, 2022