Bill Text: NJ S4608 | 2024-2025 | Regular Session | Introduced
Bill Title: Extends deadline for completion of school district's annual audit for 2024-2025 school year.
Sponsorship: Partisan Bill (Democrat 2)
Status: (Introduced - Dead) 2025-06-30 - Substituted by A5847 [S4608 Detail]
Download: New_Jersey-2024-S4608-Introduced.html
Sponsored by:
Senator PAUL A. SARLO
District 36 (Bergen and Passaic)
SYNOPSIS
Extends deadline for completion of school district's annual audit for 2024-2025 school year.
CURRENT VERSION OF TEXT
As introduced.
An Act concerning the annual audit of school districts.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. Notwithstanding the provisions of N.J.S.18A:23-1 or any other law, rule, or regulation to the contrary, the board of education of each school district shall complete the annual audit of the district's accounts and financial transactions required pursuant to N.J.S.18A:23-1 for the 2024-2025 school year no later than the January 10 next following the end of the school fiscal year, and the board of education of every school district shall submit the Audit Summary to the Commissioner of Education no later than the January 1 next following the end of the school fiscal year. For school years thereafter, the board of education of every school district shall complete its annual audit in accordance with the provisions of N.J.S.18A:23-1.
b. Notwithstanding the provisions of N.J.S.18A:23-3 or any other law, rule, or regulation to the contrary, for the 2024-2025 school year, the report of each annual audit shall be filed by the public school accountant making the same, with the accountant's recommendations with the board of education of the district, and the accountant shall, no later than the January 15 next following the end of the school fiscal year, file two duplicate copies thereof certified under the accountant's signature with the commissioner. For school years thereafter, the board of education of every school district shall complete its annual audit in accordance with the provisions of N.J.S.18A:23-3.
2. This act shall take effect immediately.
STATEMENT
This bill extends the deadline for the completion of a school district's annual audit for the 2024-2025 school year.
Under current law, the board of education of every school district is required to complete an annual audit of the school district's accounts and financial transaction completed no later than five months after the end of the school year. The school district's accountant is required to file a report of the annual audit with the board of education, and within five days thereafter, the Commissioner of Education. This bill extends each of these deadlines for the 2024-2025 school year. The provisions of P.L.2023, c.305 similarly extended the deadline for the completion of a school district's annual audit for the 2022-2023 and the 2023-2024 school years.
