Charter schools: financial reports.

Existing law requires each charter school to annually prepare and submit a preliminary budget and certain financial reports by specified dates to its chartering authority and the county superintendent of schools, or only to the county superintendent of schools if the county board of education is the chartering authority. Existing law requires the cost of performing the duties required by this provision to be funded with supervisorial oversight fees collected as specified. This bill would instead require each charter school to only submit the preliminary budget and financial reports, as discussed above, to the chartering authority. The bill would, if the charting authority is a school district, require the school district to submit the preliminary budget and financial reports received from each charter school to the county superintendent of schools by specified dates. To the extent the supervisorial oversight fees are insufficient to reimburse a school district for submitting the preliminary budget and financial reports received from each charter school to the county superintendent of schools, the bill would impose a state-mandated local program. The California Constitution requires the state to reimburse local agencies and school districts for certain costs mandated by the state. Statutory provisions establish procedures for making that reimbursement. This bill would provide that with regard to certain mandates no reimbursement is required by this act for a specified reason. With regard to any other mandates, this bill would provide that, if the Commission on State Mandates determines that the bill contains costs so mandated by the state, reimbursement for those costs shall be made pursuant to the statutory provisions noted above.