Federal regulations require TEA to annually evaluate each grant recipient’s risk of noncompliance with the federal statutes, rules, terms, and conditions of their award.
Inventory & Supply Management
For most schools, inventory is often an afterthought until audit time arrives. However, maintaining a structured inventory system is essential for compliance and financial accountability. Per the Texas Education Agency (TEA) Financial Accountability System Resource Guide (FASRG), every charter school in Texas is required to maintain an Inventory & Supply Management system using an acceptable … Read More
Fiscal Policy
Federal regulations require TEA to annually evaluate each grant recipient’s risk of noncompliance with the federal statutes, rules, terms, and conditions of their award.
HB1605 Instructional Materials Funding
Recently, you may have noticed that your EMAT shows additional Entitlements when you log into TEAL. These two entitlements are a result of funds allocated in HB1605 from the previous legislative session. HB1605 provided an allotment of $40 per student to spend on approved vendors for curriculum and instructional related materials. (These funds will carry … Read More
Reporting Requirements for the Annual Report and 2023-24 Texas Academic Performance Report (TAPR)
Who wants to think about spring yet? Slow your sleigh ride, right? HOWEVER, on 12/12/24 a 90-day timer started ticking on your annual TAPR reporting. Consider looking back to board records for the report from last spring and penciling it in for 2025! Early spring will be full of informing the public about performance systems … Read More
PIC Allotments from a Program Perspective
Program Intent Codes (PIC codes) are a critical part of budgeting, and it is good to be “PIC-y” and “PIC” the right one! Reporting expenses by PIC shows the State that you are spending funds intended for certain programs on the correct student groups. This in turn should improve services and student achievement of those … Read More
Student and Campus Activity Funds
Activity Funds Activity Funds are used to account for campus and student funds at your charter. These funds are held in trust by the charter district and used to promote the general welfare of the school, as well as the educational development and morale of all students. Some examples of Activity Funds include school fundraisers, … Read More
Obtaining Permission to Charge PK Tuition
Does your charter charge tuition to parents with students in PK who are ineligible under free eligibility guidelines? If so, you must annually submit a letter to TEA to obtain permission from the commissioner to justify your tuition rate. Ideally, the rate should be approved before you charge parents. Click here to access the form … Read More
Micro-Purchase Threshold Self-Certification for 2024-25 Due Oct. 1 (Optional)
When it comes to purchasing with grant funds, micro problems can become mega problems if you don’t follow proper procedures. You might have previously raised your micro-purchase threshold (EDGAR allowed starting 2021), but action is needed annually to maintain it. If you are new or want to make a change, you can consider this option … Read More
March 25th is the deadline to submit your comments to TEA on their proposed changes to Charter FIRST.
Currently, TEA is proposing two changes to the Charter FIRST Worksheet used to establish the Charter’s Financial Accountability Rating. The effective date for these changes is June 4, 2024. This means that your closed 2022-2023 school year financials will use the updated FIRST worksheet to establish your LEA’s 2023-2024 FIRST rating. Below is a summary … Read More