The purpose of this subchapter shall be to improve Arkansas public school districts' financial practices and use of resources by establishing a:(1) System by which the Division of Elementary and Secondary Education shall review the financial management practices of public school districts, including without limitation identifying best financial management practices;(2) Program by which the division shall identify, assess, and address public school districts in any phase of fiscal distress that includes without limitation identification of early indicators of fiscal distress and early intervention in public school districts that experience early indicators of fiscal distress; and(3) System for providing continuous fiscal support and monitoring to public school districts that have been returned to local control after being identified as in fiscal distress.Amended by Act 2019, No. 929,§ 1, eff. 7/24/2019.Amended by Act 2019, No. 910,§ 1627, eff. 7/1/2019.Acts 2003, No. 1467, § 18.
Arkansas Legal Code