NRS 387.622
Financial management principles and areas for review
- additional review by consultant authorized.
1.
Each school district selected for a review must be evaluated to determine whether the school district is successfully carrying out the following financial management principles:(a)
Establishes and carries out policies, procedures and internal controls to process business transactions efficiently;(b)
Uses cost-efficient measures to assess operations on a regular basis;(c)
Carries out measures to improve services and reduce costs;(d)
Maximizes the efficiency of money expended for public schools and ensures that resources are safeguarded;(e)
Structures its organization and staff in a manner that provides efficiency and excellence in the delivery of a public education;(f)
Establishes benchmarks for productivity and performance;(g)
Makes financial planning and budgeting decisions in a manner that is linked to the priorities of the school district, including, without limitation, the performance of pupils;(h)
Uses options for financing debt in a manner that provides for maximum efficiency;(i)
Invests proceeds from bonds and operating resources to earn an appropriate and comparable rate of return; and(j)
Uses debt management and investment policies in a manner that is representative of current market and risk profiles.2.
Each school district selected for a review must be evaluated based upon the management principles set forth in subsection 1 in each of the following areas:(a)
Financial management;(b)
Facilities management, including, without limitation, the plan for funding the rebuilding of older schools and the programs of preventative maintenance;(c)
Personnel management;(d)
District organization, including, without limitation, an evaluation of the efficiency and cost-effectiveness of the management structure of the school district to identify possible measures for cost-savings;(e)
Employee health plans and health plans for retired employees;(f)
Transportation, including, without limitation, an evaluation of whether the school district ensures the safe and efficient transportation of pupils;(g)
Alignment with the needs and expectations of the public, including, without limitation, surveys of the residents of the community;(h)
Effective delivery of educational services and programs; and(i)
Any other area that, in the professional judgment and expertise of the consultant, warrants a review based upon the management principles.3.
In addition to the areas required to be reviewed pursuant to subsection 2, if a particular school within a school district that is selected for a review receives a sum of money for the purpose of providing education to pupils and the specific use of that money is otherwise within the sole discretion of the school, the consultant may:(a)
Review the manner by which decisions were made concerning the use of that money;(b)
Review the use of that money by the school; and(c)
Track the expenditures made with that money.
Source:
Section 387.622 — Financial management principles and areas for review; additional review by consultant authorized., https://www.leg.state.nv.us/NRS/NRS-387.html#NRS387Sec622.