ASSEMBLY, No. 4033

STATE OF NEW JERSEY

220th LEGISLATURE

INTRODUCED MAY 16, 2022

 


 

Sponsored by:

Assemblyman† CRAIG J. COUGHLIN

District 19 (Middlesex)

Assemblyman† BENJIE E. WIMBERLY

District 35 (Bergen and Passaic)

 

Co-Sponsored by:

Assemblymen Conaway, Calabrese and Assemblywoman Pintor Marin

 

 

 

 

SYNOPSIS

†††† Extends deadline for completion of school districtís annual audit.

 

CURRENT VERSION OF TEXT

†††† As introduced.

††


An Act concerning the annual audit of school districts and amending N.J.S.18A:23-1 and N.J.S.18A:23-3.

 

†††† Be It Enacted by the Senate and General Assembly of the State of New Jersey:

 

†††† 1.††† N.J.S.18A:23-1 is amended to read as follows:

†††† 18A:23-1.† The board of education of every school district shall cause an annual audit of the district's accounts and financial transactions to be made by a public school accountant employed by it, which audit shall be completed not later than [5 months after] the January 31 next following the end of the school fiscal year.† Notwithstanding the provisions of this section, or of any law, rule, or regulation to the contrary, the board of education of every school district shall submit the Audit Summary to the commissioner not later than the January 15 next following the end of the school fiscal year.

(cf:P.L.2010, c.49, s.1)

 

†††† 2.††† N.J.S.18A:23-3 is amended to read as follows:

†††† 18A:23-3.† The report of each annual audit shall be filed, by the public school accountant making the same, with his recommendations with the board of education of the district, and such accountant shall [within 5 days thereafter] not later than the February 5 next following the end of the school fiscal year file two duplicate copies thereof certified under his signature in the office of the commissioner.† The commissioner annually shall publish a summary of such† recommendations as made for each school district and the steps which have been taken in each district for their implementation.

(cf:P.L.1975, c.212, s.32)

 

†††† 3.††† This act shall take effect immediately.

 

 

STATEMENT

 

†††† This bill permanently extends the deadline for the completion of a school districtís annual audit until the January 31 next following the end of the school fiscal year and its submission to the Commissioner of Education until the February 5 next following the end of the school fiscal year.†

†††† Under current law, the board of education of every school district is required to have an annual audit of the school districtís accounts and financial transaction completed not later than five months after the end of the school year.† A report of the annual audit is filed by the accountant with the board of education, and within five days thereafter, with the commissioner.† This bill extends each of those deadlines.

†††† The bill also provides that, notwithstanding the extended deadline for the submission of a school districtís annual audit report, and notwithstanding the provisions of any law to the contrary, a school district is required to submit the Audit Summary to the commissioner not later than the January 15 next following the end of the school fiscal year.