Charter FIRST is the Financial Integrity Rating System of Texas (FIRST), which is detailed in Texas Education Code 39.082. The purpose and goal of having a financial accountability rating system is to ensure that open enrollment charter schools continually strive to improve the management of their financial resources and provide transparency and openly report results to … Read More
Financial Compliance and Accountability
Because Texans trust charter officials to spend money wisely and efficiently, the state’s financial accountability systems for public charters provides a report that annually examines school funding and compliance issues to confirm that spending has been appropriate. This report is referred to as Charter FIRST. Districts and charters must also have an outside auditor examine their financial records each … Read More
Audit Firm Selection and Qualifications
In today’s Tip, we are discussing Audit Firm Selection and Qualifications. Auditing is a process of reviewing a Charter’s financial records to decide if they are accurate and align with regulations, state laws and accounting standard. Audits are conducted by third-party external auditors that are CPA (Certified Public Accountants) or by an auditing firm. External … Read More