The original instrument and the following digest, which constitutes no part of the
legislative instrument, were prepared by Ashley Menou.
DIGEST
Adley (SB 460)
Present law provides that schools participating in the Student Scholarships for Educational
Excellence Program must submit to the Department of Education an independent financial audit
of the school.
Proposed law retains present law except to require that schools account for all scholarship funds
separately from other funds by maintaining funds in a separate account or by using accounting
procedures that allow the legislative auditor to identify the separate funds.
Effective August 1, 2014.
(Amends R.S. 17:4022(3))
Summary of Amendments Adopted by Senate
Committee Amendments Proposed by Senate Committee on Senate and Governmental
Affairs to the original bill
1. Requires participating schools to maintain funds in a separate account or use
accounting methods that allow the legislative auditor to identify the separate
funds.
2. Adds that the funds audited shall be funds allocated through the Louisiana
Department of Education.
3. Deletes Section 2 providing for not-for-profit organizations receiving or
expending local or state assistance in any fiscal year.