The bill amends the General Laws regarding the reporting requirements for district charter schools, independent charter schools, and mayoral academies in Rhode Island. It specifically changes the entity to which these schools must submit their quarterly financial reports. Previously, the reports were to be submitted to the state office of municipal affairs, but with the passage of this bill, they will now be submitted to the commissioner of elementary and secondary education. The format of the reports, as prescribed by the commissioner and the state auditor general, remains a requirement. The reports must include statements on any actual or projected budget shortfalls and their potential impact on year-end financial results, as well as the school's plans to address such shortfalls.

The bill also outlines the consequences of non-compliance with the reporting requirements. If a school fails to submit the required reports, the auditor general or the state director of administration can petition the superior court to order the school to comply. Additionally, the director of administration has the authority to direct the state controller and general treasurer to withhold funding from the non-compliant school. Persistent failure to comply with these requirements may result in the revocation of the school's charter. The act is set to take effect upon passage.

Statutes affected:
3151: 16-77.2-8, 16-77.3-8, 16-77.4-8