2013 California Charter Schools Financial Management Guide
March 22, 2013 It is absolutely critical that charter school leaders understand the principals of sound financial management and designate time and resources for the implementation and monitoring of their fiscal practices. The new edition of the California Charter Schools Financial Management Guide highlights several financial management issues that are crucial for charter school leaders and boards to consider, including the following:
- Financial Governance: Strengthening board oversight of financial management
- The Basics: Avoiding fraud, financial statements and public funding sources
- Cash Flow: Tips to avoid unwelcome surprises and options for times of crisis
- Facilities Financing: Factors to consider and how to project true facility cost
- Fundraising: Readiness checklist, diversifying funding
- Internal Controls: Proper operational policies, the audit process and business service providers
The Guide also provides planning tools, such as:
- Charter School Board and Fiscal Reporting Calendar
- Revenue Cash Flow Calendar
- Financial Services Business Directory
This fifth edition of the Financial Management Guide is just one of many tools that CCSA makes available to assist our members in navigating the financial rapids. At the time of publication, we cannot see all that lies ahead. However, through www.ccsa.org, the annual California Charter Schools Conference, quarterly regional and online meetings, and weekly newsletters, CCSA will keep our members up to date on all of the latest financial news.
Save the Date: CCSA offers several in-depth trainings on this critical topic each year, both of which are highly recommended for school leaders, business managers and board members. The yearly Finance Academy and quarterly Business Managers' Meetings are offered both in-person and as webinars. Visit ccsa.org/events to learn more and register.
These are taxing times for educational institutions and small businesses alike. That means for charter schools it is doubly challenging. However, the charter community is not one to back down from a challenge, and together we will make it through these turbulent financial times and ensure that there are innovative, high quality schools available for all of California's students.