This bill mandates that chartered public schools, school administrative units, and cities or school districts not audited under RSA 671:5 undergo an audit by an independent public accountant at the end of each fiscal year. The results of these audits must be made publicly available. The bill repeals and reenacts RSA 198:4-d, which outlines the reporting requirements for these entities, including the submission of various financial reports to the commissioner of the department of education in a searchable electronic format. Key reports include certifications of appropriations, revised revenue estimates, and a financial summary of receipts and expenditures.

Additionally, the bill specifies that audit reports must include detailed financial information such as balance sheets, revenue sources, payroll details, and lists of assets and liabilities. The audit report for the previous fiscal year must be submitted within nine months of the fiscal year-end, and the commissioner of education is responsible for verifying the completeness of these reports. Non-compliance with these requirements may result in the withholding of state grant funding. The bill is set to take effect on July 1, 2026.