“Charter schools have the autonomy to manage their finances consistent with state and federal law; however, authorizers must ensure that the schools they authorize are financially stable.” (National Association of Charter School Authorizers)
Bearsolutions enables effective financial oversight of charter schools by assisting authorizers to establish a strategic vision, develop fiscal policies, communicate standards, and implement a reporting system that measures the financial health of schools (See Study of FY2013 PCS Fiscal Audits, DC Public Charter School Board). Effective oversight also warns authorizers of PCS accountability and transparency issues, and identifies operational challenges for the jurisdictional charter school sector.
Bearsolutions understands the challenges of achieving effective financial oversight from planning to implementation. We are change agents that enable authorizers and schools to comply with government and industry regulations and standards, within the constraints of funding and resources.
Bearsolutions partners with authorizers to develop unique strategies for effective financial oversight which may include these and other activities. Services are provided through a combination of on-site and remote activities, as appropriate.
- Assess fiscal readiness of applicant schools for chartering
- Measure PCS fiscal performance through audit-verified data and industry-specific measures; identify troubled schools and requirements for remediation, and fiscal competence of schools for charter renewal.
- Provide training and support to PCS Business Managers to encourage responsible financial management and secure compliance with reporting requirements;
- Facilitate collaborative governance by educating PCS Boards and other overseers of the standards and reporting established by the authorizer
- Pre-certify Auditors and review auditor performance to enable auditors to conform to standard reporting.
- Analyze PCS Sector to demonstrate viability of charter school sector to outside interest groups and identify improvements needed in authorizer policies and the financial oversight system.