§ 6-641-A. Contents
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 24 P.S. EducationEffective: July 12, 2012
Effective: July 12, 2012
24 P.S. § 6-641-A
§ 6-641-A. Contents
A financial recovery plan developed under this subarticle shall:
(F) The application for a loan under the Financial Recovery Transitional Loan Program established in Subdivision (vii)1 in an amount specified by the chief recovery officer in the financial recovery plan. The financial recovery plan shall specify the current expenses of the school district to which the loan proceeds would be applied.
(iii) An analysis of whether functional consolidation or privatization of existing noninstructional or other school district services is appropriate and feasible and recommendations for carrying out such consolidation or privatization, including timelines for implementation and anticipated cost efficiencies to be attained.
(vi) Recommendations for, and anticipated cost savings resulting from, the use of powers permitted to be used under section 642-A.2
(8) Require the financial recovery school district to use financial data software that is connected directly to the department's financial data systems to ensure that both the financial recovery school district and the department are using accurate and consistent data. All costs of the financial data software required to be used by the financial recovery school district under this paragraph shall be paid by the department.
(9) Establish specific criteria that the financial recovery school district must satisfy before the secretary may terminate the financial recovery school district's financial recovery status under section 624-A.3 Such criteria shall include, but shall not be limited to:
(iii) The financial recovery school district is not in default on any bonds, notes or lease rentals and is not subject to withholding by the secretary under section 633.4
(iv) The financial recovery school district does not satisfy the criteria stated in regulations promulgated under section 621-A(a)(2).5
Credits
1949, March 10, P.L. 30, No. 14, art. VI-A, § 641-A, added 2012, July 12, P.L. 1142, No. 141, § 10, imd. effective.
Footnotes
24 P.S. § 6-681-A et seq.
24 P.S. § 6-642-A.
24 P.S. § 6-624-A.
24 P.S. § 6-633-A.
24 P.S. § 6-621-A.
24 P.S. § 6-641-A, PA ST 24 P.S. § 6-641-A
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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