Effective: April 10, 2001
Latest Legislation: Senate Bill 345 - 123rd General Assembly
If any school district financial planning and supervision commission fails to submit to the state superintendent of public instruction under section 3316.06 of the Revised Code a financial recovery plan that is acceptable to the state superintendent, or if the state superintendent and the director of budget and management find that a commission is not materially complying with the provisions of its financial recovery plan, the state superintendent and the director may jointly dissolve the financial planning and supervision commission and jointly appoint an individual to act as the fiscal arbitrator of the district.
When a financial planning and supervision commission is dissolved under this section, the commission ceases to exist and the appointed fiscal arbitrator becomes the successor to the commission. A fiscal arbitrator appointed under this section has all of the rights, powers, and duties given by this chapter to the commission that the arbitrator succeeds. A reference in any statute, rule, contract, or other document to a school district financial planning and supervision commission is deemed to refer to a fiscal arbitrator appointed under this section.
Business commenced but not completed by a commission when it is dissolved under this section shall be completed by the appointed fiscal arbitrator with the same effect as if completed by the commission. No validation, cure, right, privilege, remedy, obligation, or liability is lost or impaired by reason of the dissolution of the commission and appointment of a fiscal arbitrator, but shall be administered by the arbitrator.
The superintendent of public instruction shall issue guidelines establishing the criteria that the superintendent will utilize in selecting qualified fiscal arbitrators under this section.
Structure Ohio Revised Code
Title 33 | Education-Libraries
Chapter 3316 | Fiscal Watches, Emergencies
Section 3316.01 | Fiscal Watch - Fiscal Emergency Definitions.
Section 3316.03 | Auditor of State to Declare Fiscal Watch or Fiscal Emergency.
Section 3316.031 | Identifying Unsafe Fiscal Practices and Budgetary Conditions.
Section 3316.04 | Submitting Financial Plan After Declaration of Watch.
Section 3316.041 | Restructuring or Refinancing Loans.
Section 3316.042 | Performance Audits of School District.
Section 3316.043 | Revision of Five-Year Projection to Conform to Financial Plan.
Section 3316.05 | Financial Planning and Supervision Commission.
Section 3316.06 | Commission to Adopt Financial Recovery Plan.
Section 3316.07 | Commission - Powers, Duties and Functions.
Section 3316.08 | Annual Determination of Operating Deficit - Tax Levy Proposal.
Section 3316.09 | Expenses of Commission and Members of Commission to Be Paid.
Section 3316.10 | School District Board to Develop Financial Accounting and Reporting System.
Section 3316.11 | Board, Officers and Employees to Provide Commission With Fiscal Information.
Section 3316.12 | Effect of Financial Recovery Plan.
Section 3316.14 | Prior Approval of Commission Required for Debt Obligation.
Section 3316.16 | Criteria for Termination of Commission.
Section 3316.17 | Commission May Remove Superintendent or Treasurer of School District.
Section 3316.18 | Severability.