1. Charter School New Applicant Workshop
November 15, 2018
Click to add notes

2. Agenda Common Mistakes Federal & State Assistance Websites & Resources
Section 20 - Budget
Section 21 - Financial Management & Oversight
Federal & State Assistance
Additional funding
Websites & Resources
How presentation will benefit audience: Adult learners are more interested in a subject if they know how or why it is important to them.
Presenter’s level of expertise in the subject: Briefly state your credentials in this area, or explain why participants should listen to you.

3. Application – Section 20 Budget
Applicants are required to use the Charter Support Unit Florida Charter School Budget Template Tool and upload the entire excel workbook
The Budget should be tailored to your application and Palm Beach County
Provide a detailed explanation when diverting from the tool

4. Application – Section 20 Budget Common Mistakes
Not providing a verification and/or commitment letter for additional funds included in the budget (not including FEFP revenue). If an agreement is not from a financial institution, additional support of financial solvency is required (audited financial statement, provide board minutes, tax returns, etc).
Using federal or competitive grant funds, food service, transportation and/or afterschool revenues to balance the budget
Including capital funds in the first year of operations. Most schools will not meet the conditions in F.S. until the third year of operations
Budgeting 100% enrollment without incorporating an adequate reserve

5. Application – Section 20 Budget Common Mistakes
Inadequate budget (salary and non-salary) to meet the needs of special education or other special program students. Palm Beach County ESE population is 15% (not including gifted).
Inadequate budget for teacher salary and benefits. New applicants must be competitive with charter schools in Palm Beach County. Current charter school average salary is $42,700 and benefit rate is 25%
Inadequate budget for technology needs. DOE recommends 1 to 1 ratio.
Inadequate budget for transportation.
Inadequate budget for Governing Board training requirements as required by section , Florida Statute, and Rule 6A , Florida Administrative Code.

6. Application – Section 20 Budget Common Mistakes
Inadequate budget for facilities:
Additional support should be provided for per square foot lease rates of less than $12, such as lease agreement.
Using the per student facility estimate – there is not enough information for the district to determine whether all costs were considered
Using the financing calculator to purchase a building. Unless you have already received approval from a financial institution do not use the financing calculator. If your financing agreement is not from a financial institution, additional support of financial solvency is required (audited financial statement, provide board minutes, tax returns, etc).

7. Application – Section 20 Budget Common Mistakes
Not having sufficient reserves to cover unexpected events, i.e. lower enrollment than projected (should be 5-15% of total revenue)
Overall lack of consistency between sections

8. Application – Section 20 Budget Common Mistakes
Examples of lack of consistency between what is documented in the applications and what is included in the budget
Target Population and Student body does not match
Not enough teachers based on the school calendar and schedule
Insufficient funds allocated to purchase the comprehensive educational programs/instructional materials (curriculum) described in the application
Not enough funds allocated to computers or network systems necessary to implement the curriculum
Insufficient funds to provide the elective courses offered as described in the application
Insufficient funds allocated for assessment and evaluation tools used by the school as described in the application

9. Application – Section 20 Budget Common Mistakes
Examples of lack of consistency between section, continued
Insufficient staff and support services (consulting) for exceptional students as described in the application
Insufficient staff and support services for english language learner students as described in the application
Insufficient funds allocated for board professional development or board training
Insufficient funds allocated for teacher and leadership development
ESP fee and service structure different from the one described in the application
Compensation plan different from the one described in the application, including benefits and retirement plans

10. Application – Section 20 Budget Common Mistakes
Examples of lack of consistency between sections, continued
Insufficient funds for recruiting and marketing strategies to enroll students as described in the application
Insufficient funds based on the desired facility space and cost
Budget does not align with the transportation plan
Budget does not align with the food service plan
No budget for premiums for the insurance policies described in the application
Budget or cash flow does not follow the timelines described in the application

11. Application – Section 21 Financial Management & Oversight Common Mistakes
Including board members that lack strong financial experience
Not having adequate board review of financial statements
Not having a documented budget amendment process requiring board review

12. Application – Section 21 Financial Management & Oversight Common Mistakes
Not hiring a qualified accountant
Not having proper segregation of duties
Not addressing annual audit requirements including (9)(j)(1), , , F.S, and 6A , F.A.C.
Not having documented financial policies and procedures

13. State & Federal Financial Assistance
Capital Outlay (see F.S )
Charter School Program (CSP) Grant -(Competitive)
Title I
IDEA
National School Lunch Program
Pursuant to provisions of 20 U.S.C s , all charter schools shall receive all Federal funding for which the school is otherwise eligible, including Title I funding, not later than 5 months after the charter school first opens and within 5 months after subsequent expansion of enrollment.

14. Websites & Resources
FLDOE Choice School Website
Charter Support Unit
FLDOE – Red Book
Florida Auditor General
Florida Statute
Florida Administrative Code

15. Contact Information
Heather Knust, CPA
Budget Director
William Dufresne, MAcc
Sr. Financial Analyst - Charter Schools
Sharon Kovner
Budget Analyst – Charter Schools