NJ S1543

Type I school districts and charter schools must establish citizen budget oversight committees to advise boards and monitor financial positions, with access to relevant financial documents subject to confidentiality redactions

Committees must have at least five members, including parents, educators, and taxpayers (or a Department of Education representative for charter schools), with at least two members having expertise in reviewing financial statements when feasible

Committee responsibilities include monthly review of revenues and expenditures with the school business administrator, monthly reporting to the board, and providing analysis on special initiatives or budgets upon request

Members serve two-year terms without compensation (though eligible for expense reimbursement) and must complete a minimum two-hour training program within their first two months covering budget processes, basic budgeting rules, and reporting requirements

Selection committees composed of educators, a board member, and parents/community members will evaluate applications and recommend candidates using a Department of Education rubric, with final approval by the board at a regular meeting