CO SB091

Enacts the "Public School Financial Transparency Act" requiring each school district, charter school, board of cooperative services, and state charter school institute to create and maintain a searchable online revenue and expenditure database by September 1, 2011.

Database must be publicly accessible at no cost and include information on all revenue received exceeding $50 and detailed expenditure data including entity name, amount, funding source, date, budget category, and purpose.

Required data must be provided in an open, structured format that allows users to download, sort, search, and systematically access all information.

Local education providers must update the database at least monthly, archive historical data to remain searchable and downloadable, prominently link to the database from their main website, and provide an automated notification feed for users.

Act takes effect 90 days after final adjournment of the general assembly (August 11, 2010), subject to potential referendum petition and voter approval in November 2010.