Prepare for Your Audit! Steps 5 & 6: Review and Submit Your Audit 

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By EdTec Staff November 14, 2018 You’ve made your way through the first four steps of the audit cycle – now all that’s left to do is review the audit report and submit!  For California charters, these last two steps occur in November and December.    Contents of an Audit Report An audit report contains 14 sections. See the chart below for a summary … Read More

Part 2 Rethinking Compensation: A Tactical Guide

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By Allison Wyatt, Founding Partner, Edgility Consulting September 10, 2018 In our last blog post, we noted that compensation ought to address the needs of teachers and staff, as well as to the organization’s own objectives. We recommend that you start with establishing a sense of just how competitive you want your compensation to be, and in what specific roles … Read More

Part 1 Rethinking Compensation: A Matter of Value

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By Allison Wyatt, Founding Partner, Edgility Consulting August 31, 2018 Staffing is a critical ingredient for any education organization — and finding the right people has never been tougher. For decades, the supply of new teachers has been slowing down, particularly in critical subject areas such as math, science, and English language learning, as well as in high-need low-income schools. … Read More

Prepare for Your Audit! Step 4: The Main Audit.

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By EdTec Staff August 8, 2018 You’ve selected an auditor, communicated with them frequently, and completed the pre-audit steps. Now it’s time for The Main Audit. This phase involves all information as of the fiscal year close and occurs between August and November. During this stage the audit firm will perform fieldwork at your school and request sample financial transactions from … Read More

Prepare for Your Audit! Step 3: The Pre-Audit

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By the EdTec Client Management Team  March 22, 2018 In our last blog post, we covered the first two phases of the audit cycle: Auditor Solicitation and Auditor Engagement. In this post, we’ll take a deeper dive into the third phase, the Pre-Audit. This phase occurs between April and June, and involves the auditor’s first visit to the school and frequent communication between … Read More

Prepare for Your Audit! Steps 1 & 2: Choose an Audit Firm and Engage

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By the EdTec Client Management Team  December 12, 2017 An audit is an official, independent review of your charter school’s financial statements by an approved CPA. An annual audit is required of charters in most states.   There is much preparation required before the annual audit.  The timeline below breaks up the charter school audit cycle into multiple phases and includes suggested dates. In today’s blog post, we’re going to focus on the … Read More

Tax Season Is Coming…Get the 411 on 1099s!

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By Jacqui Runholt, AP & Business Process Specialist November 29, 2017 You may not be a tax expert, but if you work with vendors that provide services to your charter school, you’ll need to know the basics about 1099s. A 1099 Form is used to report income from self-employment earnings, as well as interest, dividends, and other earnings, and you’ll need … Read More

School Leader Summer Reading: Cleaning Up Your School’s Payment Processes

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by Dena Koren, Senior Client Manager July 3, 2017 Now that your 2017-18 budget is approved, it’s time to start preparing for the upcoming school year. The (slightly) less hectic summer months are a good time to review the school’s financial policies and procedures to make sure everything is in place. With that in mind, here are a few thoughts … Read More

Landing Your 2017–18 Charter School Budget: Finalizing your budget for the next school year

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by Dena Koren, Senior Client Manager June 6, 2017 It’s June, and many charter schools are scrambling to put the finishing touches on their charter school budgets for the 2017–18 school year. This can be frustrating and overwhelming given all the moving parts —finalizing staff compensation, collecting final proposals for next year’s contracts, deciding which software and curriculum to use, … Read More

Finance & Operations: 5 Key Things Every Charter School Leader Should Know

Originally published November 2015 Here at EdTec, we have the fortune of working with many school leaders, both seasoned and new to the charter world, which allows us to see the most effective school leadership practices.  Many new school leaders have brought successful strategies implemented in their classrooms to their new roles as executive directors.  Inevitably, however, there are aspects … Read More