Local educational agencies: financial postings.

(1) Existing law requires, not later than May 1 of each fiscal year, each county superintendent of schools to provide for an audit of all funds under their jurisdiction and control, and requires the governing board of each local educational agency to either provide for an audit of the books and accounts of the local educational agency or make arrangements with the county superintendent of schools having jurisdiction over the local educational agency to provide for that auditing. Existing law requires, by January 31 of each year, the governing body of each local educational agency to review, at a public meeting, the annual audit of the local educational agency for the prior year, any audit exceptions identified in that audit, the recommendations or findings of any management letter issued by the auditor, and any description of correction or plans to correct any exceptions or management letter issue. This bill would require the governing board or body of each school district, educational joint powers authority, county superintendent of schools, or charter school to post their above-described annual audit report on the local educational agency's internet website within 30 days of the report's due date or issue date, as specified. (2) Existing law requires, within 7 months after the close of each fiscal year or within the time prescribed by the Controller, whichever is later, the officer of each local agency, as defined, who has charge of the financial records to furnish to the Controller a report of all the financial transactions of the local agency during the preceding fiscal year, as specified. Existing law requires the report to contain underlying data from audited financial statements prepared in accordance with generally accepted accounting principles, as specified, and to state certain information, including the aggregate income during the preceding fiscal year. Existing law requires the legislative body, upon completion of the report, to either post the report