Preparation for your charter school audits is year-round but setting up the processes and controls early can save you loads of headaches down the line.
Types of Non-Academic Audits to Prepare for:
- Yearly financial audit
- Authorizer scheduled visit
- Surprise visit/audit (attendance, operational)
- Internal audits
To prepare for all the above audits, implement internal controls for best in class operational and financial management and audit and surprise visit preparation. Here’s how:
- Create clear policies & procedures (… then follow them!)
- Define clearly who is responsible for what in their job descriptions
- Create physical controls like double signatures and named authorizers, and segmentation of duties (for example: the person handling money is not the one also signing the checks)
- Double signatures & authorizers
- Segregation of duties—person handling money is not signing checks
- Reconcile your bank statements regularly
- Make sure to have a backup of financial documentation (binders and electronic files)
- Encourage whistleblowers in your organization for non-compliance with processes
- Make sure your Governing Board is engaged in an appropriate level oversight
- Create binders and electronic files
- Regularly self-audit your charter school so you are ready
Preparing for audits can be incredibly intimidating – but it doesn’t have to be!
Join us for a two-part workshop and walk away with powerful tools to improve your school’s operational stability and run at top efficiency. We’ll complete a pre-audit to assess how your school is doing covering all the compliance issues that get missed because they’re pushed to the bottom of your never-ending stack. By the end of these two sessions, you’ll also learn how to save money, generate revenue, set up strategic plans, and reduce risks.