The bill amends sections of the General Laws related to the reporting requirements of various types of charter schools in Rhode Island, including district charter schools, independent charter schools, and mayoral academies. The amendments involve changes to the entity to which these schools must submit their quarterly financial reports. Previously, the schools were required to submit these reports to the state office of municipal affairs, but with the passage of this bill, they will now submit them to the commissioner.

The bill specifies that the quarterly reports must be in a format prescribed by the commissioner and the state auditor general. These reports should include information on any actual or projected budget shortfalls and their potential impact on the year-end financial results, as well as the school's plans to address such shortfalls. The bill also outlines that failure to comply with these reporting requirements could lead to the withholding of funding or the revocation of the school's charter. The act will take effect upon passage.

Statutes affected:
5545: 16-77.2-8, 16-77.3-8, 16-77.4-8