Bill > S4608

This bill extends the deadlines for school districts' annual financial audits specifically for the 2024-2025 school year. Currently, school districts are required to complete their annual audits within five months after the end of the school year, but this bill modifies those timelines. For the 2024-2025 school year, school district boards of education must complete their annual audit by January 10 following the end of the fiscal year, submit the Audit Summary to the Commissioner of Education by January 1, and have their public school accountant file two certified copies of the audit report with the commissioner by January 15. After the 2024-2025 school year, the standard audit submission deadlines outlined in existing law (N.J.S.18A:23-1 and N.J.S.18A:23-3) will be reinstated. This extension follows similar provisions from a previous law (P.L.2023, c.305) that extended audit deadlines for the 2022-2023 and 2023-2024 school years, suggesting a pattern of providing school districts with additional time to complete their financial audits.

Education

https://www.njleg.state.nj.us/bill-search/2024/S4608