SENATE EDUCATION COMMITTEE
STATEMENT TO
SENATE, No. 122
with committee amendments
STATE OF NEW JERSEY
DATED: FEBRUARY 10, 1997
The Senate Education Committee reports favorably Senate Bill No. 122 with committee amendments.
As amended, 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 holding at least a bachelors degree to serve as treasurer, and prohibits the treasurer 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.
The committee adopted an amendment which specifies that the food service moneys exempted from receipt by the treasurer, board secretary or school business administrator are those moneys derived from food service operations provided by a contracted vendor.
This bill was pre-filed for introduction in the 1996 session pending technical review. As reported, the bill includes the changes required by technical review, which has been performed.