Bill > SB153

This bill enhances public school financial reporting requirements by mandating more comprehensive and detailed online financial disclosures beginning July 1, 2027. Specifically, school districts, charter schools, and boards of cooperative services (BOCES) will be required to post detailed financial information on their public websites in a downloadable, accessible, and sortable format. The new reporting requirements include itemized revenue sources (such as local, state, federal, and private funding), detailed expenditure information (including marketing, student recruitment, lobbying, contractor, and education management provider costs), salary schedules, annual budgets, audited financial statements, and federal tax forms. The bill also provides some flexibility for rural school districts with fewer than 1,000 students, exempting them from certain school-level reporting requirements. Additionally, for school districts that collect additional mill levy revenue, they must disclose their distribution plans and provide a breakdown of how funds are allocated to support specific student populations. The goal is to increase financial transparency and provide the public with more comprehensive insights into how educational institutions are spending public funds.