2023 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, 2026
* 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, 2026
2. 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, 2026
* 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, 2026
* 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, 2026
* 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, 2026
* 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, 2026
* 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, 2026
* 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, 2026
* 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, 2026
7. 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, 2026
* 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, 2026