Transcript 2015 1016RevisedCSEOYFR

Orientation for New Charter School Leaders
Revised FY15 Charter School End of Year Final Report
Charter School End of Year Financial Report
 A 7-part comprehensive annual financial report
 Presents Massachusetts charter school
spending data in a way that is:
 Comprehensive
 Comparable
 Transparent to the general public
 Due Wednesday before Thanksgiving every
year (This year November 25, 2015)
Massachusetts Department of Elementary and Secondary Education
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15CSEOYFR Overview
The Report includes 7 data-entry worksheets:
1. Statement of Net Position: Statement
of Net Position
2. Stmt Rev, Exp and Change: Statement
of Revenues, Expenses, and Changes in
Net Assets
3. Schedule of FuncExp: Schedule of
Functional Expenses
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Massachusetts Department of Elementary and Secondary Education
15CSEOYFR Overview
The Report will include 7 data-entry worksheets (cont):
4. Surplus: Surplus determination.
Calculates surplus carryover
5. Schedule 7C (if applicable): Schedule
7C: Charter School Transportation
Expenditures
6. Audit Questionnaire
7. Certification and Checks (combined in
FY15): Requires School Leader signature
Massachusetts Department of Elementary and Secondary Education
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Revisions to 15CSEOYFR
Reason for revisions:
To make the CSEOYFR more user friendly
and easier to understand.
The major changes were on the
Schedule of Functional Expenses.
Specifically on the formatting,
instructions and examples.
A working group was formed with
Business Managers from many charter
schools who made many suggestions
and vetted the final template.
Massachusetts Department of Elementary and Secondary Education
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Revisions to 15CSEOYFR
At the session, we will practice filling in
the new report with sample financial
statements.
The intent of the session will be to help
the schools know where to report various
expenses and to ensure the
understanding of all parts of the report.
Please review the new report and come
with any questions!
Massachusetts Department of Elementary and Secondary Education
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Questions
Please contact Joanna Laghetto:
[email protected]
781-338-3221
James DiMaio
[email protected]
781-338-3228
Massachusetts Department of Elementary and Secondary Education
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Questions?
Please contact Joanna Laghetto at
[email protected] 781-338-3221
or James DiMaio re: CSEOYFR
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Massachusetts Department of Elementary and Secondary Education