The bill amends section 117.113 of the Revised Code to establish new auditing requirements for chartered nonpublic schools in Ohio. It mandates that the auditor of state conduct annual audits of each science, technology, engineering, and mathematics (STEM) school, as well as the specific funds or accounts of each chartered nonpublic school that receive public money. The definition of "public money" is clarified to include funds from the educational choice scholarship program, administrative and clerical cost reimbursements, and auxiliary services reimbursements.

Additionally, the bill introduces a new structure to the existing law by inserting subsections that detail the auditing process and the types of funds subject to audit. The existing section 117.113 is repealed, indicating a complete overhaul of the previous regulations governing the auditing of chartered nonpublic schools. This legislative change aims to enhance financial accountability and transparency for schools receiving public funds.

Statutes affected:
As Introduced: 117.113