Charter Schools: Be eMpowered
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April 17
Accountability Plan drafts are due for SUNY authorized charter schools in their first year

April 30
FS-10A amendment forms are due for CSP Planning and Implementation Grants

May 1
Quarterly financial reports are due for NYC DOE authorized schools

SUNY schools' application and admission summary is due

On or around May 1
Receipt of the 6th and final per pupil payment of FY16-17 covering May to June

May 5
Title I Annual Survey of Charter School Enrollment and Poverty Status form for FY17-18 is due. This online form will be used to determine your preliminary Title I allocation for the upcoming year.

May 15
Quarterly financial reports due for SUNY & NYSED authorized charter schools (NYSED reports are due for new schools only)

Final copy of the Accountability Plan for SUNY Authorized charter schools in their first year is due

Facility agreement due for SUNY schools moving into a new facility

Final day to submit 990s, if you have received two extensions

June 30
FS-10A amendment forms are due for Title I, II and III grants

FY17-18 budgets are due for SUNY schools & first year NYSED authorized charter schools

Atiba Fraser

Atiba is a hardworking financial consultant who handles bookkeeping, accounts payable tasks, reconciliations, and budgets for our clients.  When he’s not at the office, Atiba plays for various intramural soccer leagues, owns and manages an ice trike that sells icies in the spring and summertime.

Ellen Degeneres surprised Summit Academy Charter School with a $25,000 grant and Walmart awarded the graduating class with a full ride to college.

A Community Roots Charter School sixth grader wins the New York State Doodle for Google contest.

We love to hear amazing success stories from our clients…keep them coming!

You asked: What should we include on our financial dashboard?

By distilling your in-depth financial reports into key performance indicators, a comprehensive financial dashboard serves as a crucial tool to help school leaders and Trustees make sound decisions based on real-time and accurate financial data as well as a solid understanding of your long-term financial health.

Not all financial dashboards are equally useful, however.  To ensure that your Board receives a complete representation of your financial health, your dashboard should include the following indicators:

  • Cash on Hand: Should show both current and year-end projected cash on hand to capture fluctuations in the timing of certain income streams and expenditures and show how many days the cash will last.
  • Working Capital Ratio: Should show both current and total Liabilities vs. Assets.  A higher current working capital ratio is preferred as it measures the school's ability to meet short term obligations.  Total debt ratio is measured by dividing the total Assets by total Liabilities.
  • Revenue Impact of Budgeted vs. Actual Enrollment, includes both general education and special education students: Enrollment represents the bulk of revenues where (depending on total expenses) significant variances from projected student counts can have major budget implications.
  • Forecasted Surplus or Defecit for revenues minus expenses: Supports informed decision-making today based on where numbers are headed at year-end.

These key indicators will help you answer the imperative questions: What will my financials look like at the end of the year?  How long will our cash really last? How does long-term debt impact the future of our school?  What is the financial impact of over/under enrollment?  Knowing the answers to these questions will lead to better informed decisions, accountability, and sustainability.

Have a question? Ask our experts. Submit it here.
We will publish the answer to one question each quarter.

Monthly Best Practices



» Sign the engagement letter with your auditor by the end of the month.

» Ensure FAMIS is fully spent and approved.

» Ensure property insurance coverage meets or exceeds the value of assets on the books.

» Contact existing vendors to create or update FY17-18 contracts and get multiple bids as necessary.

» Finalize the FY17-18 staffing plan, pay scale and budget for board approval.

» Review your charter goals and determine whether they require an update.  If so, request a formal change from your authorizer.

» Check that the dissolution escrow account is funded in accordance with authorizer requirements, especially newly chartered schools.


» Obtain summer travel plans and contact information for key board members and school personnel to aid in audit, annual report and grant application planning.


» Collect purchase requests for the next school year from all teachers.  Use this to get a head start on FY17-18 purchasing.

» Begin calculating the Total Expenditures per Child and Administrative Expenditures per Child required for the Annual Report.

Quarterly Reminders

Remember to draw down funds for Title I, Title II, Title III and CSP grants as you spend the funding.  NYSED has revised the FS-25 form for reimbursements so please make sure you are using the correct form.  It can be found here.

Begin audit preparations by ensuring all files are up-to-date and complete. (For extra credit, conduct a preliminary audit before June.)

Does the list of board members on the website reflect changes to board membership?  Now is a great time to make updates and assess whether your board still has the required expertise.  For example, every board needs someone with financial expertise.

Have a question? 
Reach out to your CSBM consultant team or email us.
Copyright © 2017 CSBM, All rights reserved.
April 2017 CSBeMpowered

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Charter School Business Management Inc. · 237 West 35th Street, New York, NY · Suite 301 · New York, NY 10001 · USA

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