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 expenditures, faculty financial information, and cash on hand balances

Auditor must submit findings, recommendations, and proposed legislation to the legislature no later than 20 days before the 2026 regular session

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

Appropriates unspecified funding from general revenues for fiscal years 2025-2026 and 2026-2027 to complete the financial audit

Effective date of July 1, 2050 (placeholder date indicating bill requires further amendment)