Requires Type I school districts and charter schools to establish citizen budget oversight committee to monitor district's or charter school's financial position.

S 1543 requires New Jersey's Type I public school districts and charter schools to create citizen budget oversight committees. These committees, composed of at least five members including parents, educators, and taxpayers (with financial expertise preferred), must monitor school finances monthly, review budgets and tax levies, and provide recommendations to school boards. The committees gain access to financial documents (excluding confidential details) and must complete state-developed training on budgeting basics. The bill specifies how members are selected, sets two-year terms, and mandates annual reporting to school boards, aiming to increase transparency in school financial management.