Public Act No. 23-167 Summary

• Requires boards of education to submit financial reports to the Commissioner of Education by September 1 annually, with revisions allowed by December 31, and mandates independent public accountant certification by December 31; districts missing deadlines forfeit $1,000-$10,000 from state funds.

• Requires the Department of Education to publish school financial data on its website by February 15, 2024, broken down by program type, expense function, and funding source, with a guide defining expenditure categories.

• Requires the Department of Education to publish comparative financial data by February 15, 2025, allowing comparisons between school districts and schools, including student enrollment and demographic information.

• Establishes annual training program for newly elected board of education members covering board roles, responsibilities, budgeting, and education finance, effective July 1, 2023.

• Requires first-time board members to complete the training program within one year of assuming office.