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Panel advances statewide school-finance oversight bill with audit requirements and public reporting
Summary
House Bill 1164 would create a statewide fiscal monitoring system, require annual audits or third-party audits submitted to the Department of Audits, public posting of financial-condition statements, a four-tier risk designation for districts, and nonvoting DOA and state-charter representatives on a state-board audit committee; the committee advanced the bill by voice vote.
Floor Leader Wade (identified in the transcript) presented House Bill 1164 (LC492695S), describing it as a framework to strengthen financial oversight in local school systems. Wade said the bill creates a statewide fiscal monitoring/intervention system, requires annual audits or an approved third-party audit submitted to the Department of Audits and Accounts (DOA), establishes a four-tier risk matrix (fiscally sound, moderate, high, critical), and requires public posting of audits and financial reports.
Wade em…
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