Charter Schools Financial Reporting: It’s Time to Graduate from Spreadsheets
Charter Schools have many challenges in the course of the academic year; worrying about audits and grant reporting shouldn’t be one of them. But if your school relies on spreadsheets to manage grants, or information must be consolidated from multiple school locations, there is a large margin for error – errors that, if severe enough, could lead to a costly audit or worse a loss of funds.
Charter Schools need an accounting solution that can handle the reporting requirements of state and federal funds that it receives. In addition, your Charter School may receive a variety of grants that come with their own set of reporting requirements. If you are a start up, you may be taking advantage of a Charter School Program (CSP) Grant. Other grants or sources of funding may include Special Education Grants to States, E-Rate, Impact Aid and Title 1 Grants to LEAs.
Given the number and complexity of reporting on all funds is why we caution Charter Schools that the selection of accounting software is one of the most crucial decisions your management team will make. We offer a portfolio of leading accounting software solutions so that our clients won’t be shoe-horned into a system that doesn’t fit all of your needs. Some Charter Schools may be better served by cloud-based computing, others may want a hosted solution, or it may make more sense to go with an on premise solution.
Further, we can help you find easily integrated complementary solutions such as fundraising, donor management, and fixed assets to name just a few.
We’d be happy to help you in your selection process.