AZ HB2326

Charter school governing bodies must submit annual financial reports to the state board for charter schools by October 15 each year.

The state board for charter schools shall annually review all submitted financial reports for accuracy and randomly audit 5% of reports to verify information.

If the state board suspects criminal activity in compiling or submitting a financial report, it shall file a complaint with the attorney general for evaluation.

When inaccurate information is found in a report, the state board may submit a complaint to the department of education, which shall investigate and withhold state aid payments until the charter school corrects the report.

$200,000 and two FTE positions are appropriated to the state board for charter schools in fiscal year 2019-2020 to conduct the required financial report reviews and audits.