Section 25-2504-A - Establishment(a) Review system.--The department, in consultation with stakeholders as set forth in subsection (d), shall develop a system for reviewing the financial management practices of school districts in this Commonwealth based on a series of best financial management practices standards adopted for specific areas of district programs and operations.(b) Resources.--In developing this system, the department shall draw on information garnered through the existing school evaluation services reports.(c) Advisory committee.--(1) There is hereby established in the Department of Education an advisory committee consisting of nine members to assist the secretary in carrying out the secretary's duties under this article.(2) Membership on the committee shall include:(i) A representative named by an established recognized association representing school administrators.(ii) A representative named by an established recognized association representing school business officials.(iii) One representative named by each of the established recognized organizations representing the State's public school employees.(iv) A representative named by an established recognized organization representing the State's boards of school directors.(v) A representative named by an established recognized organization representing the State's colleges and universities.(vi) Three members named by the secretary to include: one representative from an established recognized organization representing the State's business community, one representative of an established recognized taxpayer organization and one member from the general public.(3) The committee shall: (i) Consult with the secretary concerning any matter arising under the administration of this article.(ii) Assist the secretary in complying with the provisions of section 2504-A(d) to include providing lists of experts in various areas on which standards and indicators are being developed pursuant to section 2505-A. (d) Consultation.--In arriving at its best practices and their indicators, the department shall consult with a wide variety of educational stakeholders, including school district administrators, school business officials, school board members, professional education organizations, taxpayer organizations, legislators and legislative staff and the Office of the Budget. Additionally, the department is to seek advice from corporate and governmental experts in financial best management practices and other states with similar programs.(e) Regulations.-- No later than one year from the effective date of this article, the secretary shall promulgate the best management practices standards as regulations. Due to the urgent need for an expedited but public regulatory process, the State Board, in adopting these regulations, shall follow the procedures set forth in the act of July 31, 1968 (P.L. 769, No. 240), referred to as the Commonwealth Documents Law, and the act of June 25, 1982 (P.L. 633, No. 181), known as the Regulatory Review Act, for the promulgation and review of final-omitted regulations.1949, March 10, P.L. 30, No. 14, art. XXV-A, § 2504-A, added 2003, Dec. 23, P.L. 304, No. 48, § 36, imd. effective.