Nonprofit
How Nonprofits Can Stay Aligned and Adapt as Conditions Change
Stronger alignment and shorter planning cycles help organizations stay focused on what matters most while adjusting more effectively to changing conditions.
AAFCPAs reminds Massachusetts charter school clients that the Charter School End of Year Financial Report (CSEOYFR) is due to Massachusetts Department of Elementary and Secondary Education (DESE) by December 1, 2021.
As auditors, it is our responsibility to follow the Massachusetts Charter School Audit guide as part of our audit procedures. Historically, this guide has required us to review the financial information included in the CSEOYFR for accuracy and completeness, including Schedule 4 – Surplus Tuition, 20% Excess Carryover. This past year, as part of changes made to the Massachusetts Charter School Audit Guide, DESE now requires auditors to review the following pieces of the CSEOYFR to ensure there is factual data included:
- Schedule 5 – Schedule B: Charter School Building Information
- Schedule 7 – Audit Questionnaire
AAFCPAs advises clients to review these schedules carefully to ensure they comply with DESE requirements.
If you have questions, please contact Nichole Reilly, CPA, MBA, at nreilly@aafcpa.com, 774.512.4016, John Buckley, CPA, CGMA, at jbuckley@aafcpa.com, 774.512.4039; or your AAFCPAs Partner.
