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The Committee on Education Pre-K - 12 (Carlton) recommended the

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following amendment:

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     Senate Amendment (with directory amendment)

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     Between line(s) 119 and 120

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insert:

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     (1) Local governmental entities, charter schools, charter

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technical career centers, and district school boards shall be

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subject to review and oversight by the Governor, charter school

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sponsor, charter technical career center sponsor, or the

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Commissioner of Education, as appropriate, when any one of the

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following conditions occurs:

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     (a)  Failure within the same fiscal year in which due to

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pay short-term loans or failure to make bond debt service or

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other long-term debt payments when due, as a result of a lack of

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funds.

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     (b)  Failure to pay uncontested claims from creditors

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within 90 days after the claim is presented, as a result of a

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lack of funds.

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     (c)  Failure to transfer at the appropriate time, due to

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lack of funds:

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     1.  Taxes withheld on the income of employees; or

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     2.  Employer and employee contributions for:

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     a.  Federal social security; or

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     b.  Any pension, retirement, or benefit plan of an

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employee.

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     (d)  Failure for one pay period to pay, due to lack of

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funds:

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     1.  Wages and salaries owed to employees; or

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     2.  Retirement benefits owed to former employees.

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     (e)  An unreserved or total fund balance or retained

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earnings deficit, or unrestricted or total net assets deficit,

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as reported on the balance sheet or statement of net assets on

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the general purpose or fund financial statements, for which

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sufficient resources of the local governmental entity, as

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reported on the balance sheet or statement of net assets on the

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general purpose or fund financial statements, are not available

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to cover the deficit. Resources available to cover reported

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deficits include net assets that are not otherwise restricted by

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federal, state, or local laws, bond covenants, contractual

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agreements, or other legal constraints. Fixed or capital assets,

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the disposal of which would impair the ability of a local

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governmental entity to carry out its functions, are not

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considered resources available to cover reported deficits.

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====== D I R E C T O R Y  C L A U S E  A M E N D M E N T =====

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And the directory clause is amended as follows:

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     Delete line(s) 117-118

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and insert:

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Section 4. Subsections (1), (2), and (4) of section 218.503,

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Florida Statutes, are amended to read:

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3/4/2008  8:57:00 AM     ED.ED.04376