Rhode Island § 16-105-7 - School Building Authority

§ 16-105-7. Expenses incurred by the school building authority.

In order to provide for one-time or limited expenses of the school building authority under this chapter, the Rhode Island health and educational building corporation shall provide funding from the school building authority capital fund, fees generated from the origination of municipal bonds and other financing vehicles used for school construction, and its own reserves. The school building authority shall, by October 1 of each year, report to the governor and the chairs of the senate and house finance committees, the senate fiscal advisor, and the house fiscal advisor the amount sought for expenses for the next fiscal year.

There is also hereby established a restricted-receipt account within the budget of the department of elementary and secondary education entitled “school construction services,” to be financed by the Rhode Island health and educational building corporation’s sub-allotments of fees generated from the origination of municipal bonds and other financing vehicles used for school construction and its own reserves. Effective July 1, 2018, this account shall be utilized for the express purpose of supporting personnel expenditures directly related to the administration of the school construction aid program. Expenditure of all restricted receipts accepted by the department shall be subject to the annual appropriation process and approval by the general assembly.