John Buckley
Charter Schools Not Exempt from MA Paid Family and Medical Leave Law
AAFCPAs would like to make charter school clients aware that the Massachusetts Department of Family and Medical Leave recently issued a policy clarification related to certain excluded employers of the new Paid Family and Medical Leave (PFML) law. Municipalities, districts, political subdivisions, and other agencies are excluded from PFML law unless they choose to opt-in. […]
To Stay Secure, Think Like a Fraudster
Take the case of one private secondary school, where the business officer was accused of cutting checks worth more than $50,000 to pay for personal travel expenditures. He entered the transactions into the school record as payments for school travel. Because the hotels and airlines were the same companies the school used for professional development, […]
Update Debt Disclosures in Compliance with GASB-88
AAFCPAs would like to remind clients and friends that, in April 2018 the Government Accounting Standards Board (GASB) issued Statement No. 88, Certain Disclosures Related to Debt, including Direct Borrowings and Direct Placements. This standard is applicable for entities following governmental accounting standards, including AAFCPAs’ Charter School clients in Massachusetts and New Jersey, as well […]
Educational Podcast: Anticipating the Fraudster
Listen to Podcasts: Unfortunately, today we all need to think like a fraudster. As auditors, we are charged with identifying weaknesses in internal controls that pose risks for fraud, including theft or misstatement of financial results. As a result, we make recommendations to management to enhance controls to mitigate the opportunity for fraud. However, […]
AAFCPAs to Present Workshop on Anticipating Fraud at NBOA Conference, San Diego, CA
AAFCPAs has been selected to present an educational workshop: Rogue Waves Sink the Unwary Vessel: Think Like a Fraudster at the National Business Officers Association (NBOA) Conference in San Diego, CA, March 3-6. This is a must-attend conference for CFOs, heads of school and other business and operational leaders in nonprofit K-12 education, providing exceptional learning opportunities […]
Guidance on How UG Procurement Standards Affect Charter Schools
AAFCPAs’ John Buckley, CPA, CGMA discussed challenges and opportunities facing Charter Schools while attending and presenting at this year’s National Charter School’s Conference in Austin, TX. In conversations, John learned that many schools have yet to formally update their procurement policies to reflect the Uniform Guidance (UG) procurement standards. As a reminder, the grace period for non-federal entities […]
Treasury, IRS Relieves Regulatory Burden for Certain Tax-Exempt Organizations, Protects Personal Donor Information
AAFCPAs would like to make clients aware that the Treasury Department and IRS announced on July 16th, 2018 changes to donor disclosure requirements for certain tax-exempt organizations. This new revenue procedure does not affect the statutory reporting requirements that apply to tax-exempt groups organized under section 501(c)(3) or section 527, but it relieves other tax-exempt […]
MTRS Issues Final GASB 68 Report, Providing Charter Schools with Their Portion of Pension Expense and Revenue
AAFCPAs would like to make Massachusetts Charter School clients aware that the Massachusetts Teachers’ Retirement System (MTRS) has issued its GASB 68 “Schedule of Nonemployer Allocations and Schedule of Collective Pension Amounts” report for the year ended June 30, 2017. The Schedules are available here. >> AAFCPAs reminds clients, per Governmental Accounting Standards Board (GASB) […]
AAFCPAs to Present Educational Workshop for Board Fiduciaries at National Charter Schools Conference in Austin, TX
AAFCPAs has been selected to present an educational workshop on Training Your Board to be Better Fiduciaries at the National Charter Schools Conference in Austin, Texas, June 17-20. This is a must-attend conference for charter school teachers, leaders, board members, and advocates, providing exceptional professional development programming and networking opportunities for over 4,500 charter school […]