Transparency of Financial Info

• Intent to provide transparency and accuracy of financial information at the school system and school level, to the greatest extent practicable.

• Budget site based information to be provided, not specifically made confidential by law:

1. Cost of all materials, equipment, and other non-staff support;

2. Salary and benefit expenditures for all staff;

3. Cost of all professional development, including training, materials, and tuition provided for instructional staff on an annual basis;

4. The total cost of facilities maintenance and small capital projects; and

5. The cost of new construction or major renovation reported on a cost-per-square-foot basis, based on the school system facilities plan.

• Budget school system level information:

1. The local budget of the Board of Education;

2. Annual Audits conducted on the finances of the local Board of Education;

3. Ratios of expenditures to revenues;

4. Total dollar amount of local tax revenue the system is allowed to collect in addition to the total program mill levy; and

5. Total dollar amount of all other taxes collected.

• All information shall be posted on the system website in a prominent location:

1. The annual budget submitted to the State Board of Education;

2. The annual personnel report prepared by the state auditor;

3. The most recent audit conducted;

4. Any finding of irregularity or budget deficits reported by the audit; and

5. Any sales tax for educational purposes as posted to the Departments of Audits and Accounts searchable website.

    

• Each public school shall post on a prominent location on its website:

   

1. The financial efficiency ratings for the school published by GOSA

2. The webpage where the local school posted the information listed above, paragraph 1 through 5 above.

By January 1, 2017 the State Board of Education shall develop rules and regulations requiring the post of the material requires in the first part of the bill.  The SBOE shall include a template and definitions of budget and expenditure categories and line items.

By no later than October 31, 2017, each local board of education and each charter school shall publish on a predominant location the required information on the websites.

The GOSA shall report the percentage of students with each funding characteristic.

If funding is available, GOSA will develop a sortable list of all schools and systems on per student expenditures used to determine the financial efficiency rating.

The DOCA shall report the relative financial performance of schools and school systems.

The Department of Education shall publish annually on its website all underlying fiscal data.

All state and local entities shall cooperate with and assist each other in complying with this part.