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
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
Budget Reporting
Some of the most important duties that a school board preforms are discussing and finalizing budgets for the charter each year, monitoring spending activity to ensure it meets budgetary guidelines, and making tough decisions when cuts are necessary. The board may also consider any opportunities for the charter to generate additional revenue. What exactly is … Read More
Texas Charter Procurement
The goal and function of purchasing departments in charter schools is to provide the highest quality goods and services available within the parameters of the approved budget and in compliance with all applicable guidelines and laws. Some charter districts are a one-man or two-man operation, so it’s even more important that all checks and balances … Read More