SB 1461 Summary

• Charter schools must prepare an annual statement of actual income and expenditures by September 1 each year, compliant with Section 5-135 and using functional categories defined in the Oklahoma Cost Accounting System.

• Charter schools are prohibited from submitting estimates or prorated amounts to fulfill expenditure reporting requirements.

• Virtual education providers and school districts contracting with them must identify full-time virtual students who are nonresidents and submit detailed performance data electronically to the State Department of Education.

• Virtual education providers are considered a site within each contracted school district and subject to the state accountability system.

• The act became effective July 1, 2014, with an emergency declaration allowing immediate implementation upon passage and approval.