* § 2590-r. School based budgeting and expenditure reporting. The\nchancellor shall, in consultation with the city board and community\ndistrict superintendents, establish in regulations a comprehensive\nprocess of school-based budgeting and expenditure reporting no later\nthan November first, nineteen hundred ninety-eight. Notwithstanding any\nprovision of section twenty-five hundred ninety-q of this article to the\ncontrary, such regulations shall include provisions for:\n a. the allocation of projected revenues among community districts and\ntheir schools on the basis of objective formulae developed by the\nchancellor, after consultation with the community councils, community\nsuperintendents and the mayor, and approved by the city board, such\nformulae shall reflect the relative educational needs of the community\ndistricts and their schools to the maximum extent feasible;\n b. (i) following release of the executive budget of the city of New\nYork by the mayor of the city of New York, the chancellor to inform the\nprincipal of each school of that school's preliminary budget allocation,\nand the principal to propose a school-based budget, after consulting\nwith members of the school based management team and soliciting input\npursuant to sections twenty-five hundred ninety-h, and twenty-five\nhundred ninety-i of this article on budget priorities from all members\nof the school community;\n (ii) for schools under the jurisdiction of a community superintendent,\nthe principal shall be required to provide written justification, in a\nform and manner prescribed by the community superintendent pursuant to\nparagraph (h) of subdivision one of section twenty-five hundred ninety-f\nof this article, to demonstrate that the school-based budget proposal is\naligned with the school's comprehensive educational plan;\n c. the review, modification, approval and certification of the\nproposed school budget for schools under the jurisdiction of a community\nsuperintendent pursuant to paragraph (h) of subdivision one of section\ntwenty-five hundred ninety-f of this article;\n d. within amounts estimated by the chancellor, the aggregation of the\nproposed school-based budgets, as modified and approved by the community\nsuperintendent, with a proposed budget for the administrative and\noperational expenses of the community superintendent and community\ncouncil, as developed by the community superintendent, for submission to\nthe chancellor;\n e. the chancellor to develop a school-based budgeting process for\nschools under his or her jurisdiction consistent with this section which\nshall require that: (i) each principal provide written justification\ndemonstrating that the school-based budget is aligned with such school's\ncomprehensive educational plan; (ii) the school based management team\nsubmit comments regarding such justification; and (iii) the chancellor\ncertify that the school-based budget is sufficiently aligned with such\nschool's comprehensive educational plan after reviewing the principal's\njustification and the school based management team's comments;\n f. the aggregation of the community district budgets, as modified and\napproved by the chancellor, with a proposed budget for administrative\nand operational expenditures of the city board and the chancellor, as\nprepared by the chancellor, for submission to and adoption by the city\nboard after a public hearing;\n g. after final adoption of the budget for the city district by the\nmayor and city council, a process of distributing any reductions or\nincreases required by such adoption in an equitable manner which\nconsiders the relative needs of community districts and schools to the\nmaximum extent feasible and for modifying the proposed budget\naccordingly. Such process shall include an analysis of the relative\nfunding levels of the state, the city, the federal government, and other\nsources of funds; a comparison of the level of such funding against\nprevious years' t
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