Management and Financial Controls. At all times, the School shall maintain appropriate governance and management procedures and financial controls which shall include, but not be limited to: (a) budgets, (b) accounting policies and procedures, (c) payroll procedures,
Management and Financial Controls. The School's Governing Board shall develop and adhere to a policy for the School’s financial management that shall be readily accessible from the School’s website, as described in Section 8.9. This policy shall allow the School to maintain appropriate governance and management procedures and financial controls which shall include, but not be limited to:
a. Budgets;
b. Accounting policies and procedures;
c. Payroll procedures;
d. Financial reporting; and
e. Internal control procedures for receipts, disbursements, purchases, payroll, inventory, and fixed assets.
Management and Financial Controls. The School shall at all times maintain appropriate governance and managerial procedures and financial controls; including but not limited to the identification of a professionally qualified chief financial officer or school business administrator and the resources and professional assistance needed to provide financial information upon the request of the Commission and participate in the independent annual audit required by 20-A M.R.S. § 2412-A.
Management and Financial Controls. At all times, the Charter School shall maintain appropriate governance and managerial procedures and financial controls which procedures and controls shall include, but not be limited to:
i. the adoption and implementation of a Cost Allocation Plan must be submitted to and approved by the Board prior July 1, 2019 and, thereafter, must be submitted to and approved by the Board to the extent the Charter School seeks to amend the Cost Allocation Plan. The Cost Allocation Plan should follow the cost allocation plan required by Illinois State Board of Education State and Federal Administration Policy;
ii. generally accepted accounting procedures;
iii. a checking account(s);
iv. adequate payroll procedures;
v. bylaws;
vi. an organization chart; and
vii. procedures for the creation and review of monthly and quarterly financial reports, which procedures shall specifically identify the individual who will be responsible for preparing such financial reports in the following fiscal year.
Management and Financial Controls. The Organizer shall at all times maintain appropriate governance and managerial procedures and financial controls. The Organizer shall provide a statement to the Executive Director no later than July 1 of the calendar year in which the school intends to begin serving students concerning the status of management and financial controls (the "Initial Statement"). The Initial Statement must address whether the Organizer and the Charter School have documented adequate controls relating to:
(a) preparing financial statements in accordance with generally accepted accounting principles, and also with the requirements for charter schools established by the SBOA;
(b) payroll procedures;
(c) accounting for contributions and grants;
(d) procedures for the creation and review of quarterly and annual financial statements, which procedures shall specifically identify the individual who will be responsible for preparing and reviewing such financial statements and ensure that such statements contain valid and reliable data;
(e) appropriate internal financial controls and procedures;
(f) safeguarding of assets including cash and equipment;
(g) ensuring that the purchasing process results in the acquisition of necessary goods and services at the best price; and
(h) following appropriate guidance relating to a code of ethics, budget development and administration, and cash management and investments. The Initial Statement shall be reviewed and ratified by the Board prior to its submission to the Executive Director. The Organizer shall thereafter retain an independent certified public accountant or independent certified public accounting firm licensed in Indiana to perform an agreed-upon procedures engagement (the “Independent Accountants’ Report”) in accordance with attestation standards established by the American Institute of Certified Public Accountants. The purpose of the engagement will be to assist the Board and the Executive Director in evaluating the Initial Statement and the procedures, policies and practices established thereunder. The engagement shall commence within sixty (60) days after the date on which the School has received and disbursed more than $50,000 in monies from State funding. The resulting Independent Accountants’ Report should be provided to the Board no later than forty-five days
Management and Financial Controls. (a) The Education Corporation shall at all times maintain appropriate governance and managerial procedures and financial controls and maintain same at each school, program or other activity operated by the Corporation.
(b) Upon the granting of the authority to operate an additional, new school (i.e., authority not acquired through merger) and prior to its opening: (i) the Education Corporation’s Treasurer, or an employee or agent acting on behalf of the Education Corporation pursuant to a specific delegation of authority from the Education Corporation Board, shall certify to the Trustees that substantially similar financial controls have been instituted for the new school; or, (ii) the Education Corporation shall comply with the Initial Statement procedures set forth in subsection 5.1(c). Any certification required by this section shall be in the form and manner, and submitted on the schedule, set forth on the website of the Institute.
(c) The Education Corporation shall provide a statement to the Trustees, no later than sixty (60) days from the date the Regents approve the authority of the Corporation to operate a new school (or is approved by operation of law), concerning the status of management and financial controls (the "Initial Statement") of the school. The Initial Statement must address whether the Education Corporation has documented adequate controls at that school relating to:
(i) preparing financial statements in accordance with generally accepted accounting principles (“GAAP”);
(ii) payroll procedures;
(iii) accounting for contributions and grants;
(iv) procedures for the creation and review of quarterly financial statements, which procedures shall specifically identify the individual who will be responsible for preparing and reviewing such financial statements for the Education Corporation and for each school; and,
(v) appropriate internal financial controls and procedures. The Initial Statement shall be reviewed and ratified by the Education Corporation Board prior to its submission to the Trustees. The Education Corporation shall thereafter, but within the sixty (60) day period, retain an independent certified public accountant or independent certified public accounting firm licensed in the State to perform an agreed-upon procedures engagement (the “Independent Accountants’ Report”) in accordance with attestation standards established by the American Institute of Certified Public Accountants. The purpose of the engagement will be to assist...
Management and Financial Controls. The Charter School shall at all times maintain appropriate governance and management procedures and financial controls. The Charter School shall retain an independent certified public accountant (CPA) licensed in New York State who shall perform a review of the Charter School's financial statements and management and financial controls. The CPA shall provide a report to the Board of Trustees and SED no later than November 1 of the first year of the charter (the "Initial Statement"). The Initial Statement must address whether the Charter School has adequate policies, procedures and practices in place to ensure: (i) financial records are maintained in accordance with generally accepted accounting principles (GAAP); (ii) interim and annual financial statements and other reports contain valid and reliable data; (iii) assets including cash and equipment are safeguarded;
Management and Financial Controls. 6.1.1. The Charter Governing Board shall at all times maintain appropriate governance and managerial procedures and financial controls and maintain the same at each public charter school, program or other activity operated by the Charter Governing Board.
6.1.2. The Charter Governing Board shall provide a statement to the Board of Public Education, no later than one hundred and twenty (120) days after the date of execution of the Charter Contract, concerning the status of management and financial controls (the "Initial Statement") of the school. The Initial Statement must address whether the
6.1.2.1. (i) preparing financial statements in accordance with generally accepted accounting principles (“GAAP”);
6.1.2.2. (ii) payroll procedures;
6.1.2.3. (iii) accounting for contributions and grants;
6.1.2.4. (iv) procedures for the creation and review of quarterly financial statements, which procedures shall specifically identify the individual who will be responsible for preparing and reviewing such financial statements for the Charter Governing
6.1.2. 5. (v) appropriate internal financial controls and procedures.
Management and Financial Controls. At all times, the Charter School shall maintain appropriate governance and managerial procedures and financial controls including, but not limited to: (i) accounting methods as specified in paragraph 6.a.;
Management and Financial Controls. The Charter Governing Board shall at all times maintain appropriate governance and managerial procedures and financial controls and maintain the same at each public charter school, program or other activity operated by the Charter Governing Board. The Charter Governing Board shall provide a statement to the Board of Public Education, no later than one hundred and twenty (120) days after the date of execution of the Charter Contract, concerning the status of management and financial controls (the "Initial Statement") of the school. The Initial Statement must address whether the Charter Governing Board has documented adequate controls at that school relating to:
