This bill mandates that boards of education in New Jersey must publicly post specific financial information on their websites. The required postings include summaries of payroll, total accounts payable, and weekly accounts payable. Additionally, boards must provide a summary document that clearly outlines their major categories of expenditures and identifies vendors chosen through competitive bidding or contracting processes.

The bill emphasizes the importance of accessibility by requiring that this information be displayed in a prominent and easily accessible location on the website, in a format approved by the Commissioner of Education. This initiative aims to enhance transparency and accountability in the financial operations of educational institutions. The act is set to take effect immediately upon passage.