SB 1126: Local agencies: financial postings.

This bill requires the annual audit report and financial statements of school districts, county offices of education, and local agencies to be posted on their internet websites within 30 days of filing or formal receipt. Failure to do so would result in a $1,000 civil penalty, which could be assessed by the superintendent of public instruction or the controller upon a valid complaint. Additionally, local agencies must post their audited financial statements or annual comprehensive financial report on their website within 30 days of formal acceptance by the legislative body. The penalties collected would be deposited into the local agency transparency fund to support the controller's enforcement costs.