§ 16-77.4-8. Mayoral academy reporting.
(a) All mayoral academies shall continuously monitor their financial operations by tracking actual versus budgeted revenue and expense. The chief financial officer of a mayoral academy shall submit a report on a quarterly basis to the state office of municipal affairs certifying the status of that mayoral academy’s budget. The quarterly reports shall be in a format prescribed by the state office of municipal affairs and the state auditor general. The reports shall contain a statement as to whether any actual or projected shortfalls in budget line items are expected to result in a year-end deficit, the projected impact on year-end financial results including all accruals and encumbrances, and how the mayoral academy plans to address any such shortfalls.
(b) The auditor general or the state director of administration may petition the superior court to order a mayoral academy to file said reports. The director of administration may also direct the state controller and general treasurer to withhold any funding to a mayoral academy until the school complies with the reporting requirements hereunder. Failure to comply with this section shall be cause for the revocation of the school charter.
History of Section.P.L. 2010, ch. 84, § 6; P.L. 2010, ch. 107, § 6.
Structure Rhode Island General Laws
Section 16-77.4-2. - Procedure for creation and expansion of a mayoral academy.
Section 16-77.4-3. - Process for consideration of proposed charter or expansion.
Section 16-77.4-4. - Revocation of the charter of a mayoral academy.
Section 16-77.4-5. - Budgets and funding.
Section 16-77.4-6. - Applicability of other provisions of title 16.
Section 16-77.4-7. - Portions of title 16 applicable to mayoral academies.