The bill expands financial reporting requirements for school districts. Under current law, a limited set of financial details must be posted online by the state charter school institute, school districts, boards of cooperative services, and charter schools. Starting July 1, 2027, however, each school district will be required to report all of its financial information as well as that of every traditional public school under its jurisdiction.
Key additions include detailed disclosures on:
Marketing Expenditures: Actual spending on marketing activities.
Student Recruitment: Costs related to recruiting students.
Lobbying Activities: Funds expended on lobbying efforts.
Contractor Expenditures: Payments made to contractors.
Education Management Provider Expenditures: Costs incurred through education management services.
Revenue Sources: A comprehensive breakdown of all income streams.
Summary
Under current law, the state charter school institute and each
school district, board of cooperative services, and charter school is required to publicly report certain financial information online. The bill requires a school district to report all information for itself and for each of its traditional public schools beginning July 1, 2027. Each report must include additional information concerning actual marketing, student recruitment, lobbying, contractor, and education management provider expenditures and all sources of revenue.
