The Louisiana Board of Elementary and Secondary Education through the Office of Management and Finance in the Louisiana Department of Education is required by Act 7 of the 2005 Regular Session of the Louisiana State Legislature to define “financially at risk” as a status of any city, parish, or other local school board the unresolved finding of which subjects the school system and its board to provisions of the law regarding the judicial appointment of a fiscal administrator.
Ultimately, the purpose of Act 7 is to allow the state to be aware of what is happening at the local level in terms of financial issues and to assist in resolving these problems promptly and in the best interest of the school children in each school system.
