Authorizes the Holland central school district to establish an insurance reserve fund for any loss, claim, action or judgment for which such school district is authorized or required to purchase or maintain insurance for the kinds of risks for which insurance is authorized.
Impact
The implication of this bill modifies existing regulations surrounding the establishment of insurance reserve funds by municipal corporations in New York State. The adoption of this bill would allow the Holland Central School District greater flexibility in financial management, specifically in how they prepare for and cover unforeseen liabilities. By enhancing their ability to pool resources for insurance-related costs, the district positions itself to handle financial risks more effectively, which could have long-term benefits for budgetary planning and school operations.
Summary
Bill A10573, introduced by Assembly Member DiPietro, aims to amend the general municipal law to authorize the Holland Central School District to establish an insurance reserve fund. This fund would enable the school district to make expenditures necessary for losses, claims, actions, or judgments where the district is required or authorized to purchase insurance. This creates a mechanism for financial planning and stability in managing risks faced by the district, aligning with best practices in risk management for educational institutions.
Contention
While the bill aims to provide essential support to the Holland Central School District, it could also spark discussions concerning the broader implications on state funding and budget allocation for schools. A potential point of contention may arise from how these reserve funds might impact overall state or federal funding for education, and whether such provisions might create imbalances between districts with the ability to establish and effectively manage such funds versus those that lack equivalent resources.
Same As
Authorizes the Holland central school district to establish an insurance reserve fund for any loss, claim, action or judgment for which such school district is authorized or required to purchase or maintain insurance for the kinds of risks for which insurance is authorized.
Authorizes the Holland central school district to establish an insurance reserve fund for any loss, claim, action or judgment for which such school district is authorized or required to purchase or maintain insurance for the kinds of risks for which insurance is authorized.
Authorizes municipalities and districts to enter into cooperative agreements for the provision of centralized public employee administrative and personnel services; provides for health insurance coverage of municipal employees pursuant to standardized health insurance contracts; authorizes the provision of reduced premiums for municipal health insurance plans which offer wellness programs.
Authorizes school districts to borrow against certain reserve funds, pursuant to a resolution adopted by the board of education of such school district.
Authorizes school districts to borrow against certain reserve funds, pursuant to a resolution adopted by the board of education of such school district.
Extends the date by which school districts must purchase and solely operate and maintain zero-emission school buses; authorizes certain school districts to apply for and be granted an annual one-year extension for compliance with zero-emission school bus requirements until 2045.
Authorizes the Medford fire district, located in Suffolk county, to deposit into the insurance reserve fund an amount of $400,000 in each of the years 2026, 2027 and 2028.
Authorizes the Medford fire district, located in Suffolk county, to deposit into the insurance reserve fund an amount of $400,000 in each of the years 2026, 2027 and 2028.
Relating to the authority of the Wood County Central Hospital District of Wood County, Texas, to provide brain and memory care services to residents of the hospital district through the creation and operation of brain and memory health care services districts.