AZ SB1643

Requires qualified schools receiving Arizona Empowerment Scholarship Account (AESA) monies to comply with financial reporting requirements identical to school districts and charter schools, including audits under section 15-914.

Establishes an audit team within the Auditor General's office to conduct audits of qualified schools and monitor the percentage of AESA monies spent in the classroom, with random selection of schools subject to review by the Joint Legislative Audit Committee.

Requires qualified schools to post on their website the percentage of AESA monies spent in the classroom from the most recent Auditor General status report and submit implementation status reports every six months for two years following an audit.

Mandates the State Board of Education develop minimum financial performance requirements for qualified schools and financial reporting requirements evaluating their financial ability to operate, default status, operating costs, debt payments, and student enrollment changes.

Creates a financial transparency portal through the Department of Education displaying all qualified school financial information reported pursuant to new requirements.