AAFCPAs’ Education practice advises both start-up charter schools and multi-site proven providers, as well as the leading Charter Management Organizations (CMOs) in the country. Our proven advice improves the business & operational performance of charter schools and CMOs regardless of what stage of development they are in: start-up, growth, or replication. Our valuable expertise has been earned over years of providing auditing and operational consulting in this industry, and makes us unique. We are intimately familiar with best practices in how charter schools and CMOs operate at every stage of development. We are involved and passionate supporters of the charter school movement!
AAFCPAs’ Charter School and CMO Advisory Solutions Include:
Performance Enhancement Services
- State and federal grant compliance
- Preparation of required reports to grantors, and government funder compliance
- Guidance on new & expanding charters, including: feasibility & cash flow analysis
- Guidance on setting up networks & CMOs
- Board training
- Compensation consulting
- Assistance with drafting accounting policy & procedure manuals
- Strategic planning
- Preparation of business plans
- Preparing for charter renewal
- Internal controls assessment & best practice recommendations
- Fraud prevention
- Business process improvement
Real Estate Activity
- Evaluation of financing structure options
- Accounting for capital and debt activity
- Debt covenant tracking
- Cost certifications
- Financial projections to obtain financing
Audit Readiness
- Quarterly reviews of internal financials, focusing on high-risk areas to ensure internal financial statements are accurate
- Preparation of financial statements and audit schedules for external auditors
Internal IT Systems Review
- Preparation of financial statements and audit schedules for external auditors
- Risk assessments
- Evaluation of internal IT systems
- Financial package software selection
Accounting Assistance
- Financing projections and budgeting, including long-term and capital budgets
- Accounting for complex or high-risk areas, such as: debt, construction in process, entitlement grants, and restricted donor funds
- Training new accounting staff
- Training senior management on financial reporting and charter school complexities
- Designing reporting to best present the financial statements to senior management, the Board, and donors
- Cloud-based Fractional CFO & Outsourced Accounting
- Interim, part-time CFO services
- Financial staffing analysis
AAFCPAs has significant experience successfully advising Charter Schools and CMOs on a local and national level, including experience with diverse private, federal and state funders of these schools. In addition, nearly half of all the Charter Schools in Massachusetts are loyal clients and strong proponents of AAFCPAs. Many have been clients since the time they were granted their charters.