Are you in need of more funding to meet the school safety standards? A new grant opportunity was released last week that is the third in a series of recent state grants aimed at enhancing school facilities to protect students from violence. You may have previously received the SPAT (Silent Panic Alert Technology), and the … Read More
Indirect Cost Rate Utilization Survey Due Sept. 15, 2023
This must be the year for unexpected surveys from TEA! In July, CSS told you about the Survey on Reporting Real Property, and on Aug 22, TEA Grant Compliance announced another new survey requirement called the “Indirect Cost Utilization Survey.” All LEAs that were issued indirect cost rates (IDCR) in the last 3 years (2020, … Read More
Inventory & Supply Management
For most schools, Inventory is the last thing that you consider keeping track of throughout the year until audit time comes around. Per the Texas Education Agency (TEA) Financial Accountability System Resource Guide (FASRG), every school in the state of Texas is required to maintain an Inventory & Supply system using an acceptable software. Auditors … Read More
Assets, Liabilities and Revenue Coding
Do you know the difference between an asset and revenue? Would you like to know where to code a monthly rent payment? What about the large donation you received at the end of the year, do you know where to code that? By far, the largest variety of codes in your Chart of Accounts will … Read More
IDEA-B Maintenance of Effort (MOE) Compliance
TEA has calculated IDEA-B LEA maintenance of effort (MOE) compliance reviews for school year 2020-2021. What is IDEA-B Maintenance of Effort (MOE)? MOE is a federal requirement that affects how an LEA (i.e. Charters) budgets and spends their state and local funds on special education students. Charter School Success helps our charter school clients in both the … Read More
Program Intent Code Allotments
Program Intent codes (PICs) are used to account for the cost of teaching and other services that are directed toward a particular need of a specific set of students. It is important to remember that it is the intent that determines the PIC, and not the demographic makeup of the students served. When using PICs … Read More
EDGAR: Staffing, Time & Effort
One of the best benefits of federal grant dollars is the ability to add extra staffing; however, there is much to consider about compliance and documentation for federally-funded staff. The Education Department General Administrative Regulations (EDGAR) must be followed when hiring and documenting the time of federally-funded staff. This article and our accompanying EDGAR Staff … Read More
Annual Wage Reporting and Compliance – W-2 and W-3
Today’s tip is a friendly reminder about annual wage reporting and compliance, which includes both providing form W2 to each employee who worked for your charter in the calendar year 2022 and filing employee wage information with the Social Security Office (SSA) using form W3. As you close out the calendar year and start to … Read More
Internal Controls
What are Internal Controls and why are they important? Internal control is defined as a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance. Internal controls are the policies and procedures management establish to achieve the … Read More
Charter School Budget Overview: Best Practices and Processes
Effective financial management starts with a good budget. A realistic budget is a critical management and accountability tool for charter schools at every stage in their development. The process of establishing a budget forces charters to review and prioritize programs and improvements, helping them allocate resources to areas that are key to academic success. It … Read More