1 Education; District Taxes; Reports Required; Cities and School Districts. RSA 198:4-d, III is repealed and reenacted to read as follows:

III. Each city, school district, and chartered public school shall file a report for the preceding fiscal year showing a summary of receipts and expenditures, according to uniform classifications, and a balance sheet showing assets and liabilities at the close of the year. This report shall be either an audit completed and verified by an independent certified public accountant, or if no such audit is completed, a financial audit report filed by the governing body of the city, school district, or chartered public school which includes balance sheets; a breakdown of revenue sources; an itemized list of expenditures; an itemized list of all employees or staff on payroll and their pay; an itemized list of any applicable benefit contributions; and an itemized list of the school or district's assets, debts, bonds, lease agreements, and capital improvement investment projects. The audit or financial report shall be submitted on or before September 1 of each year. Each report submitted under this paragraph shall include a certification signed by the chairperson of the school district's governing body or the chairperson of the board of trustees of approved public academies that states: "I certify, under the pains and penalties of perjury, to the best of my knowledge and belief, that all of the information contained in this document is true, accurate and complete." The commissioner of the department of education shall verify that the report appears complete, comparing it against those submitted in prior years. The commissioner shall withhold any and all state funding allocated to any non-compliant city, school district, or chartered public school until the audit or financial report is completed and submitted to the department, and any questions are answered to the commissioner's satisfaction.

2 Effective Date. This act shall take effect July 1, 2026.

1 Education; District Taxes; Reports Required; Cities and School Districts. RSA 198:4-d, III is repealed and reenacted to read as follows:

III. Each city, school district, and chartered public school shall file a report for the preceding fiscal year showing a summary of receipts and expenditures, according to uniform classifications, and a balance sheet showing assets and liabilities at the close of the year. This report shall be either an audit completed and verified by an independent certified public accountant, or if no such audit is completed, a financial audit report filed by the governing body of the city, school district, or chartered public school which includes balance sheets; a breakdown of revenue sources; an itemized list of expenditures; an itemized list of all employees or staff on payroll and their pay; an itemized list of any applicable benefit contributions; and an itemized list of the school or district's assets, debts, bonds, lease agreements, and capital improvement investment projects. The audit or financial report shall be submitted on or before September 1 of each year. Each report submitted under this paragraph shall include a certification signed by the chairperson of the school district's governing body or the chairperson of the board of trustees of approved public academies that states: "I certify, under the pains and penalties of perjury, to the best of my knowledge and belief, that all of the information contained in this document is true, accurate and complete." The commissioner of the department of education shall verify that the report appears complete, comparing it against those submitted in prior years. The commissioner shall withhold any and all state funding allocated to any non-compliant city, school district, or chartered public school until the audit or financial report is completed and submitted to the department, and any questions are answered to the commissioner's satisfaction.

2 Effective Date. This act shall take effect July 1, 2026.