Financial Reports/Accountability

C.O.R.E. Placer, Inc. Board Policy: 05/20/2009

A. The Board shall adopt sound fiscal policies, oversee the school’s financial condition, and ensure that the financial systems support the goals for student achievement. .

B. If conditions predict fiscal distress or indicate that the school might not be able to meet its fiscal obligations, the Board and School Executive Director/designee shall act quickly to identify and resolve these conditions.

Administrative Regulation: Approved by Executive Director: 02/18/2009

A.The School Executive Director/designee shall provide the Board with financial reports throughout the year in accordance law and in conformity with generally accepted accounting principles and financial reporting standards stipulated by the Governmental Accounting Standards Board and the California Department of Education, working with a management company if appropriate.

B. The School Executive Director/designee shall work with the financial management company to ensure they will meet School Board and County Board financial reporting deadlines for the current school year.

· Each year, the School Executive Director shall select an auditor from the CDE approved charter school auditor list.

· The School Executive Director and the Financial Management company will work with the auditor to complete the required yearly audit within the given timeframe.

· The School Executive Director and the Financial Management company will then file the report of the audit for the preceding fiscal year with all entities legally required to receive a copy of the charter school audit for that year.

· After receiving the school copy of the yearly charter school audit , the School Executive Director will place the annual audit on the Board Agenda for the next regular board meeting, where it can be discussed at a public meeting.

· The annual audit will be completed and forwarded to the County Superintendent of Schools, the State Controller, and to the CDE by the 15th of December of each year, or other date as may be requested.