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 for the auditing process by specifying that these audits will occur each fiscal year, ensuring accountability for the use of public funds in chartered nonpublic schools. The existing section 117.113 is repealed, indicating a complete overhaul of the previous auditing framework for these institutions.

Statutes affected:
As Introduced: 117.113