Fiscal Operations Resources

Yearly Budget, Quarterly, Renewal, New Applications, Charter Revision and Year-End Audit Reports for SUNY Authorized Charter Schools

The Charter Schools Institute has implemented a consistent format for the submission of budget information for both applicants for new schools and for operating schools through the life of their charter. For new school applicants, there is a template for the budgets required by SUNY’s RFP process. For operating schools, there is a template for yearly budgets, quarterly submissions, budgets to be included in renewal applications, budgets that may be requested as part of your request to revise your charter and year-end audit reports.

Consistency in reporting allows the Institute to: have a more complete picture of a school’s financial standing; enables new feedback to all schools about identified best practices and common challenges; and supports Institute efforts to assist schools in complying with all fiscal reporting requirements and in offering guidance to schools when called upon.

Guidance, Memos and Reminders:

• Institute Guidance: Annual Budgets (2011-12), 4th Quarter Reports (2010-11) and Audited Financial Reports (2010-11)  (06-11)

• Institute Reminder: Audited Financial Reports 2009-10 (10-10)

• Institute Guidance: Budgets (2010-11), 4th Quarter Reports (09-10), and Audited Financial Reports (2009-10)   (06-10)

• Institute Guidance:  Yearly Budget and Quarterly Reports (12-09)

* Updated 2-17-10: Answers to Frequently Asked Questions about the Yearly Budget and Quarterly Report Template.

Templates:

For New School Proposals:

• Start-Up Budgets and Cash Flows Template - New Applications (01-11 v2)

For Operating Schools:

• Yearly Budget and Quarterly Report Template  (07-11 v3)

• Audited Financial Report Template (06-11 v3)

• Charter Revision Budget Template (01-11 v1)

• Five-Year Budget Outlook Template - Renewal (01-11 v1)

Resources from the 2009 National Alliance for Public Charter Schools Annual Conference

Note: The following is provided for information only.  These presentations were prepared for a national audience and are not specific to New York or to the policies and practices of the Institute, nor do they necessarily reflect the views or policies of the State University Trustees.

• Presentation by The National Resource Center on Charter School Finance and Governance addressing the Assessment of the Fiscal Health of Charter Schools.
  
• A presentation done by Self Help on The Business of Charter Schools as well as a
  budgeting worksheet.
  
  
• A presentation by representatives from Brustein and Manasevit, The National Alliance for Public Charter Schools and Public Economics, Inc. addressing the Recovery Act (ARRA) which offers some helpful insight into this topic as well as provides additional links that can help explain further what is in the presentation.
  
  
• A document created by Brustein and Manasevit that provides a helpful list of Acronyms and Education Websites
  
  

Financial Oversight Handbook (Second Edition coming in Fall 2011)

• The Financial Oversight Handbook is designed to be a comprehensive resource for SUNY authorized charter schools in navigating the many facets of financial accountability.  (Download the latest version of Adobe Acrobat™ to use the interactive .pdf file.)  Stand-alone versions of all Handbook appendices, as well as a sample Accountant's Report, are also posted below in Microsoft Word format for your convenience:

Sample Accountant's Report

Appendix A - State University Charter Renewal Benchmarks (Fiscal)

Appendix B - Selected Internal Control Practices for Charter Schools

Appendix C - Required Charter School Policies

Appendix D - Reporting Deadlines Calendar

Audit Reference Guide, 3rd Edition                              

• The Audit Reference Guide for Charter Schools Authorized by the Board of Trustees of the State University of New York (the Guide) was developed to provide assistance to charter schools authorized by the State University of New York throughout the annual audit process. This assistance is focused on helping school officials and board members to understand the basic requirements and limitations of the audit. The primary goal of the Guide is to assist in ensuring accountability over public funds and to provide a suggested format for the financial statements.

School officials are encouraged to share the Guide with their independent auditor or prospective auditor. The auditor should not consider this document to be all-inclusive, or a substitute for professional judgment. Furthermore, the auditor clearly needs to follow professional standards that are referenced but not repeated as part of this document.

The Charter Schools Institute would like to acknowledge the assistance of the staff of the New York State Education Department, school officials, and several audit practitioners and in preparing this document. Comments or questions regarding this Guide should be addressed to the Charter Schools Institute.

Evaluating Education Service Providers

• Information on evaluating the financial and organizational capacity of an education contractor (subject-specific curriculum developers, education service providers, special education service providers, etc.) is provided in the following publication from the American Institutes for Research and The Finance Project: Choosing an Education Contractor: A Guide to Assessing Financial and Organizational Capacity.