School Finance Accountability Board--Members--Purpose--Promulgation of rules--Appeal--Waiver approval--Report

There is hereby created the School Finance Accountability Board within the Department of Education. The board shall consist of five members appointed by the Governor. The members shall serve a term of four years. The board may recommend that the provisions of § 13-13-73.5 be waived for a school district if the district can demonstrate that its lowest monthly general cash fund cash balance percentage is the result of special circumstances. The board may recommend that a penalty against a school district imposed under § 13-13-73.9 be waived, in whole or in part, if the district can demonstrate that its failure to comply with § 13-13-73.6 or 13-13-73.8 is due to special circumstances. The board may recommend the Department of Education review the accreditation of a school district that is found not to be complying with §§ 13-13-73.5 , 13-13-73.6 , or