Finance

Tasha RobinsonDirector of Finance(803) 734-8017trobinson@sccharter.org

Ciera Bing (Roper)Assistant Director of Finance(803) 734-0451croper@sccharter.org

FY16 Funding Teacher Supply = $250

Any supplies/materials/equipment purchased with this funding is that of the teacher. If a teacher leaves, supplies are taken by the teacher upon their departure.

Any funds not disbursed to teachers must be returned. Funds should be disbursed in a manner separate and

distinct from payroll. EFA Funding =$2,220 (FY15 - $2,120,

ended the year at $2,100.65) Lottery funding has been rolled into EFA.

Charter Funding Brick and Mortar = $3,600 Virtual = $1,900

FY16 EFA/State Funding Release Dates

(Dates Funding is expected to be released to Districts) July 22 August 21 September 22 October 22 November – TBD December – TBD January 22 February 22 March 22 April 22 May 20 June 22

FundingAllocation Updates

5 day ADM (FY15, October)New charter schools in the current

fiscal yearSchools having approved

incremental growth and expansion as provided in the charter application (e.g. adding a grade)

45 day ADM (FY15, January)135 day ADM (FY15, May)

FY17 Enrollment Projections for budget

season Email will be sent over the next few weeks Projections should be broken out by funding

classification If enrollment changes are material as

defined by the amendment guidelines, a charter amendment form must be completed

Provide the rationale for the projections One reason the rationale is requested is to

possibly provide talking points for the Superintendent

CLASSIFICATIONKindergartenPrimary (grades 1-3)Elementary (grades 4-8)High School (grades 9-12)Trainable Mentally HandicappedSpeech HandicappedHomeboundEmotionally HandicappedEducable Mentally HandicappedLearning DisabilitiesHearing HandicappedVisually HandicappedOrthopedically HandicappedVocationalAutismTotal Add-ons:Gifted and TalentedAcademic AssistanceLimited English ProficiencyPupils in PovertyAdd-ons Total:

Financial Reporting Monthly Entries into Smartfusion

Due Date: 10th of following month Quarterly Financial Statements

(new schools) Balance Sheet, Income Statement

and Cash Flow Statement Due Date: 20th of month following

the quarter Board-approved annual Budgets

Due Date: July 31

Financial Reporting (cont.)

Audit Letter of Engagement Due Date: May 30

Annual Audits Due Date: November 1

Audit Adjustments into Smartfusion Due Date: November 15

Physical Inventory Counts Due Date: September 30 and June 30

Annual Fixed Asset Visit For FY16, February 2016 (Dates TBA)

Performance Framework (Finance) - TBA

Funding Resources(Links are available on the Bookshelf under Finance –

Resources - Links

SCDE Funding Manual http://

ed.sc.gov/agency/cfo/finance/Financial-Services/ManualsandGuidelines.cfm

SCDE Financial Accounting Handbook http://

ed.sc.gov/agency/as/ManualsHandbooksandGuidelines.cfm

SCDE Annual Audit Guide http://

ed.sc.gov/agency/as/ManualsHandbooksandGuidelines.cfm

Questions??Tasha RobinsonDirector of Finance(803) 734-8017trobinson@sccharter.org

Ciera Bing (Roper)Assistant Director of Finance(803) 734-0451croper@sccharter.org