15-904. School district annual financial
report; publication; summary
A. The governing board of each school district shall publish an annual financial
report for the prior fiscal year by November 15. The auditor general in conjunction with
the department of education shall prescribe the format of the financial report to be used
by school districts. The financial report shall contain budgeted and actual expenditures
for the preceding fiscal year and shall be prepared and distributed by October 15 by the
school district with a copy to the county school superintendent. A copy of the annual
financial report shall be submitted electronically by the school district to the
superintendent of public instruction by October 15. The annual financial report shall be
approved by the county school superintendent in an electronic procedure as prescribed by
the department of education. School districts that are subject to section 15-914.01 are
not required to send a copy to the county school superintendent.
B. In addition to the information required in subsection A of this section, the
annual financial report shall contain detailed information on the school district
budgeted and actual expenditures from the bond building fund, the soft capital allocation
fund, the deficiencies correction fund, the building renewal fund and the new school
facilities fund, including but not limited to information on classified salaries,
employee benefits, interest and fiscal charges, capital lease agreements, land and
improvements, buildings and improvements, furniture and equipment, technology and
vehicles and transportation equipment for pupils. The information shall specify whether
the expenditures are for school district renovation or for new construction, the cost per
square foot, and land acquisition costs, as appropriate.
C. Except as provided in subsection D of this section, the governing board shall
publish, by November 15, the annual financial report for the school district either in a
newspaper of general circulation within the school district, by electronic transmission
of the information to the department of education for posting on the department's website
or in the official newspaper of the county as defined in section 11-255 or the governing
board may mail the annual financial report for the school district to each household in
the school district. If the governing board chooses to transmit the report
electronically to the department of education, the school district shall provide a link
on the school district's website to the report on the department's website. If the
governing board chooses to publish the report in a newspaper, the size of the newspaper
print shall be at least eight-point type. The cost of publication or mailing shall be a
charge against the school district. The publisher's affidavit of publication shall be
filed by the governing board of the school district with the superintendent of public
instruction within thirty days after publication.
D. The governing board may publish or mail a summary of the annual financial report
in the same manner as provided in subsection C of this section. The auditor general in
conjunction with the department of education shall prescribe the form of the summary of
the annual financial report for use by the governing boards.
E. The superintendent of public instruction shall compile the financial reports of
the school districts, including expenditure data for federal and state projects, and
shall report to the governor and the legislature on or before January 15 of each year as
provided in section 15-255.
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