To require the state to monitor long-range financial health of school districts. The office of the superintendent of public instruction and the office of financial management shall present proposed system measures and a financial health outlook rating system to the governor by November 1, 2007. The bill also creates the Education Data Center to analyze education issues defined in the bill. See companion SB 5842.   Official Text and Analysis.

To require that the data center to be housed in the LEAP rather than in the OFM. The system measures and ratings system shall be developed by the LEAP and the OFM. Implementation of the system is automatic unless the Legislature changes it during the 2008 session. Recommendations by the LEAP and the OFM relative to the school budget process must receive Legislative approval before being implemented. The Education Data Center is housed within the LEAP rather than the OFM. The SPI must develop collection and format instructions for school districts to collect student demographic data that is disaggregated by distinct ethnic categories within racial subgroups. The data center will conduct analysis using this data.

To clarify that the Office of Financial Management (OFM), rather than OFM and the Legislative Evaluation and Acountability Program Committee (LEAP), will identify school district financial health system measures and develop a financial health monitoring system. The OFM will seek input from and collaborate with the Office of the Superintendent of Public Instruction (OSPI) and LEAP.