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Committee weighs bill to expand school financial reporting as auditors warn of capacity constraints
Summary
The House Education Funding Committee heard Senate Bill 586, which would require more detailed, searchable financial reports from school districts and SAUs and give the Department of Education new authority to verify completeness. Auditors and DOE staff warned a six‑month audited deadline and an automatic withholding of state funds would be impractical without rulemaking, more staff and a longer compliance window.
The House Education Funding Committee on Tuesday considered Senate Bill 586, a proposal to expand what schools must report about finances and to tighten compliance deadlines.
Representative Dan Magcguire, introducing the measure for an absent sponsor, said the bill shifts a vague ‘‘financial report’’ requirement into a more detailed submission that would include payroll and staffing data, itemized assets and liabilities and contracts. "It's putting a lot more detail into what needs to be reported," Magcguire said, and his amendment would also add school administrative units (SAUs) as required reporters and require the reports be submitted in a searchable electronic format.
Magcguire drew attention to a provision in the bill that would authorize the commissioner to…
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