Financial Emergency Information

The Local Governmental Entity Financial Emergencies Act calls into action the process whereby a local government entity (i.e. county, municipality, or special district) may be placed in financial emergency status subject to the oversite of the Governor. Charter School sponsors and the Commissioner of Education provide oversight for Charter Schools and District School Boards as appropriate.

Local governmental entities are required to notify the Governor when specific economic conditions exist. If an entity meets one or more of the conditions specified in Section 218.503(1), F.S. , the Governor has assigned responsibility to the Chief Inspector General for determining if state assistance is needed to resolve the condition. That determination is based on a review of audit reports, other financial information, and discussions with entity officials regarding the qualifying condition.

The Governor has the authority to implement measures to assist the entity which may include, but are not limited to:

(a) Requiring entity budget approval by the Governor;
(b) Prohibiting the entity from incurring any form of additional debt;
© Establishing a financial emergency board to oversee the activities of the entity; and
(d) Inspecting books, records, and assets as necessary.

For additional information please contact Telephone: 850-922-4637 or Fax: 850-921-0817
or Contact Us

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