Charter Oversight, Accountability, and Transparency Act or the COAT Act
This bill requires state educational agencies, in order to receive certain federal funds, to ensure that each contract between a charter school located in the state and a private charter management organization includes certain compliance requirements.
Specifically, such organization must annually disclose certain information to the Department of Education (ED), including the identity of each charter school it operates or manages, the amount expended on operations and administration, information about its contracts, and an audited income statement. ED must publish such information on its website.
Additionally, such organization must hold board meetings that are open and accessible to the public.