CO HB1145

The Colorado Department of Education must create standardized summaries and visual representations of revenue and primary expenditures for each school district, charter school, board of cooperative services, and the state charter school institute, disaggregated by elementary, middle, and secondary school levels.

Summaries and visual representations must be readable and understandable by laypersons and consistent across all local education providers to allow easy comparison of finances.

The Department shall work with the Financial Policies and Procedures Committee to determine data sources, primary expenditure categories, visual format style, and any additional data needed from local education providers.

The Department must create a website view containing revenue and expenditure summaries for all local education providers, and each local education provider must post its summary on its website with a link to the Department's website.

The bill takes effect 90 days after final adjournment of the general assembly (August 6, 2014), or may require voter approval if a referendum petition is filed within that period.