ASSEMBLY EDUCATION COMMITTEE

STATEMENT TO

ASSEMBLY, No. 2820

STATE OF NEW JERSEY

DATED: DECEMBER 11, 1997

      The Assembly Education Committee favorably reports Assembly Bill No. 2820.

      This bill revises the duties of the Treasurer of School Moneys to make them more consistent with recent accounting changes and with modern banking technology. The bill permits any qualified individual to serve as treasurer who possesses at least one of the following certificates or licenses: Certified Tax Collector; Certified Municipal Finance Officer; School Business Administrator; Certified Public Accountant; or who possesses a Bachelor's degree in accounting or other related field. The board of education may waive the qualification requirement for a current employee. Under the bill, the treasurer would be prohibited from holding any other position in the school district. In addition, the bill removes the requirement that the treasurer deposit all funds and sign all board warrants and payroll checks. It also changes the duties of the treasurer from a bank reconciliation and account balance verification function to solely a bank reconciliation function.

      As released by committee, this bill is identical to Senate Bill No. 122 (2R).