MI SB0928

Requires educational management organizations (EMOs) with management agreements at public school academies, urban high school academies, schools of excellence, and strict discipline academies to provide audited financial statements annually disclosing specific expenditures of money received under the management agreement.

Mandates EMOs provide boards of directors with a list describing each fringe benefit and its cost for any employee, officer, or board member earning over $100,000 per year.

Requires boards of directors to make audited financial statements, fringe benefit information, and management agreements available on academy websites within 30 days of receipt.

Expands existing requirements for EMOs to disclose the same financial information school districts must disclose under the state school aid act, applicable to agreements entered into or renewed after the bill's effective date.

Takes effect 90 days after enactment; applies to all management agreements entered into or renewed after the effective date of the amendatory act.