This bill mandates that the Department of Education and the Department of Revenue Administration provide annual school monitoring and financial reports to relevant school authorities, including elected school board officials, superintendents, and business administrators. Specifically, it introduces new sections to RSA 21-N and RSA 21-J, which outline the requirements for these reports. The Department of Education is tasked with sending all school monitoring and financial reports electronically, along with annual notifications detailing the reports expected to be sent each year. The bill defines a "monitoring report" as any formal report that identifies compliance concerns or deviations from industry standards, recommending corrective actions for local education agencies.

Additionally, the Department of Revenue Administration is required to create and send a school district audit compliance report by July 10 each year, which will also be distributed to the relevant school authorities. The bill defines a "compliance report" similarly to the monitoring report, emphasizing the identification of compliance issues and recommendations for corrective action. The act will take effect 60 days after its passage. No deletions from current law are specified in the text provided.