HI SB494

Requires the State Auditor to conduct a financial audit of each charter school under the State Public Charter School Commission, including three years of financial expenditures, faculty financial information, and cash on hand balances.

Auditor must submit findings, recommendations, and any proposed legislation to the legislature no later than twenty days prior to the 2026 regular legislative session.

State Public Charter School Commission must take action based on the Auditor's recommendations within one year of the report's submission.

Appropriates unspecified funds from general revenues for fiscal years 2025-2026 and 2026-2027 to enable the Auditor to complete the financial audits.

Effective date: July 1, 2050.