This bill amends the deadlines for the completion of annual audits for school districts in New Jersey specifically for the 2024-2025 school year. It stipulates that the board of education for each school district must complete the annual audit of accounts and financial transactions by January 10 of the year following the end of the school fiscal year, and submit the Audit Summary to the Commissioner of Education by January 1. Additionally, the public school accountant must file the audit report, along with recommendations, with the board of education and submit two certified copies to the commissioner by January 15.

The bill overrides existing provisions in N.J.S.18A:23-1 and N.J.S.18A:23-3, which typically require audits to be completed within five months after the end of the school year. This extension aligns with previous legislation that similarly adjusted deadlines for the 2022-2023 and 2023-2024 school years, ensuring that school districts have adequate time to complete their audits amidst ongoing challenges. The act is set to take effect immediately upon passage.