the max charter schoolapp1.lla.la.gov/publicreports.nsf/268464ef6bb96ec...the max charter school...

(Ham;: necessarycopies from thisr0fJy and PI-AC?-;V»CK in HLF)

THE MAXCHARTER SCHOOL

Audit of Financial Statements

June 30, 2008

Under provisions of state law, this report is a publicdocument. Acopy of the report has been submitted tothe entity and other appropriate public officials. Thereport is available for public inspection at the BatonRouge office of the Legislative Auditor and, whereappropriate, at the officaoftheparish clerk of court.

flr/rs fhRelease Date '//u/_{_y

Contents

Independent Auditor's Report

Financial Statements

Statement of Financial Position

Statement of Activities

Statement of Cash Flows

Notes to Financial Statements

Independent Accountant's Report on ApplyingAgreed-Upon Procedures

Schedules Required by Louisiana State Law (R.S. 24:514Performance and Statistical Data)

General Fund Instructional and Support Expendituresand Certain Local Revenue Sources

Education Levels of Public School Staff

Number and Type of Public Schools

Experience of Public Principals, Assistant Principalsand Full Time Classroom Teachers

Public School Staff Data

Class Size Characteristics

Louisiana Educational Assessment Program (LEAP)

Graduation Exit Exam

iLEAP Test Results

Supplemental Information

Schedule of Governing Board

1 -2

3

4

5

6 - 8

10-13

14Schedule

1 15

2 16

3 17

4 18

5 19

6 20

7 21

8 22

9 23

25

Report on Internal Control Over Financial Reporting and onCompliance and Other Matters Based on an Audit ofFinancial Statements Performed in Accordance withGovernmental Auditing Standards 26 - 27

ROM IG HAND

Independent Auditor's Report

To the Board of TrusteesThe Max Charter SchoolThibodaux, Louisiana

We have audited the accompanying statement of financial position of The Max Charter School (theSchool), a non-profit organization, as of June 30, 2008, and the related statements of activities andcash flows for the year then ended. These financial statements are the responsibility of theSchool's management. Our responsibility is to express an opinion on these financial statementsbased on our audit.

We conducted our audit in accordance with auditing standards generally accepted in the UnitedStates of America and the standards applicable to financial audits contained in GovernmentalAuditing Standards, issued by the Comptroller General of the United States. Those standardsrequire that we plan and perform the audit to obtain reasonable assurance about whether thefinancial statements are free of material misstatement. An audit includes examining, on a testbasis, evidence supporting the amounts and disclosures in the financial statements. An audit alsoincludes assessing the accounting principles used and significant estimates made by management,as well as evaluating the overall financial statement presentation. We believe that our auditprovides a reasonable basis for our opinion.

In our opinion, the financial statements referred to above present fairly, in all material respects, thefinancial position of the School as of June 30, 2008, and the changes in its net assets and its cashflows for the year then ended, in conformity with accounting principles generally accepted in theUnited States of America.

In accordance with Government Auditing Standards, we have also issued a report datedAugust 14, 2008, on our consideration of the School's internal control over financial reporting andon our tests of its compliance with certain provisions of laws, regulations, contracts, grantagreements and other matters. The purpose of that report is to describe the scope of our testing ofinternal control over financial reporting and compliance and the results of that testing, and not toprovide an opinion on the internal control over financial reporting or on compliance. That report isan integral part of an audit performed in accordance with Government Auditing Standards and isimportant for assessing the results of our audit.

The schedules required by Louisiana State Law included as Schedules 1 through 9, are not arequired part of the basic financial statements, but are supplementary information required byLouisiana State Law. We have applied certain limited procedures, which are described in theIndependent Accountant's Report On Applying Agreed-Upon Procedures. However, we did notaudit this information and, accordingly, express no opinion on it.

HO VRTERANS MHMOUIAI. BUUU-:VAHI>, Sum, 200, M*>TAIKIIJ, LA 70005-4958 - 504.S35.5522 • PAX 504.835*55355300 Vnjjvois WALK, Sums 202, COVING-TON, LA 70433-4012 • 9S5.K92.5KSO • FAX yS5.K92.5956

TOWN MAM wi'sr, tooon PHWKINS Rowt.;, STII 200. BA-ION ROUGH, LA 70810-1797 • 225.296.5J50 • FAX 225.296.5i5i

Our audit was conducted for the purpose of forming an opinion on the financial statements of theSchool taken as a whole. The accompanying supplemental information is presented for purposesof additional analysis and is not a required part of the basic financial statements. Such informationhas been subjected to the auditing procedures applied in the audit of the basic financial statementsand, in our opinion, is fairly stated, in all material respects, in relation to the basic financialstatements taken as a whole.

A Professional Accounting CorporationAugust 14, 2008

THE MAX CHARTER SCHOOLStatement of Financial PositionJune 30, 2008

Assets

Current AssetsCash and Cash Equivalents $ 30,001Grant Receivable 46,238

Other Current Assets 6,131

Total Current Assets 82,370

Fixed Assets

Building 635,945Machinery and Equipment 44,585Improvements 6,447Accumulated Depreciation (44,147)

Total Fixed Assets, Net 642,830

Total Assets $ 725,200

Liabilities and Net Assets

Current Liabilities

Accounts Payable $ 16,649Due to Related Parties 22,148Accrued Expenses 89,754

Total Liabilities 128,551

Net Assets

Unrestricted 596,649

Total Net Assets 596,649

Total Liabilities and Net Assets $ 725,200

The accompanying notes are an integral part of these financial statements.

3

THE MAX CHARTER SCHOOLStatement of ActivitiesFor the Year Ended June 30, 2008

UnrestrictedRevenue, Grants and Other Support

State Public School Funding $ 871,905Donations 672,658Grant Revenue 46,238Other Income 32,839Other State Funding 27,043

Total Revenue, Grants and Other Support 1,650,683

Expenses

Program ServicesRegular Education Programs 688,829School Administration 168,891Depreciation 44,148Special Education Programs 32,527Operation and Maintenance of Plant Services 30,271Instructional Staff Services 15,070Other Instructional Programs 9,791Pupil Support Services 1,600

Management and GeneralGeneral Administration 27,828Business Services 8,056

Total Expenses 1,027,011

Change in Net Assets 623,672

Net Deficit, Beginning of Year (27,023)

Net Assets, End of Year $ 596,649


4

THE MAX CHARTER SCHOOL

Statement of Cash FlowsFor the Year Ended June 30, 2008

Cash Flows from Operating Activities

Change in Net AssetsAdjustments to Reconcile Increase in Net Assets to

Net Cash Provided by Operating ActivitiesDepreciation(Increase) Decrease in:

Grants ReceivablePrepaid Expenses

Increase (Decrease) in:Accounts PayableRelated Party PayablesAccrued Expenses

Total Adjustments

Net Cash Provided by Operating Activities

$ 623,672

44,148

(46,238)(6,131)

16,649(4,876)89,754

93,306

716,978

Cash Flows from Investing ActivitiesFixed Asset Purchases

Net Cash Used in Investing Activities

Net Increase in Cash and Cash Equivalents

Cash and Cash Equivalents, Beginning of Year

Cash and Cash Equivalents, End of Year

(686,977)

(686,977)

30,001

30,001


5



Note 1. Summary of Significant Accounting Policies

The Maxine Giardina Charter School, Inc., doing business as The Max Charter School (theSchool), was created as a non-profit corporation under the laws of the State of Louisianaon June 27, 2006. The School applied to the Louisiana Board of Elementary andSecondary Education (BESE) to operate a Type 2 charter school. On June 6, 2007, BESEapproved the charter of the School. The charter was granted for an initial term of 3 yearsand will terminate unless BESE grants the School a 2 year extension of the contractpursuant to Louisiana Revised Statute 17:3992 and 3998.

The School serves eligible students in first through eighth grade. The School specializes ininstruction for students with dyslexia and other related learning disabilities. A summary ofthe School's significant accounting policies consistently applied in the preparation of theaccompanying financial statements follows:

Financial Statement PresentationThe School follows the guidance of Statement of Financial Accounting Standards (SFAS)No. 117, Financial Statements of Not-for-Profit Organizations. Under SFAS No. 117, theSchool is required to report information regarding its financial position and activitiesaccording to three classes of net assets: unrestricted, temporarily restricted, andpermanently restricted. In addition, the School is required to present a statement of cashflows.

The School also follows the guidance of SFAS No. 116, Accounting for ContributionsReceived and Contributions Made, whereby contributions received are recorded asunrestricted, temporarily restricted, or permanently restricted support depending on theexistence and/or nature of any donor restrictions. Restricted net assets are reclassified tounrestricted net assets upon satisfaction of the donor imposed time or purpose restrictions.Restricted contributions, for which the restriction is met in the same year, are classified asunrestricted.

Basis of AccountingBasis of accounting refers to when revenues and expenses are recognized in the accountsand reported on the financial statements. The financial statements of the School areprepared on the accrual basis of accounting whereby revenues are recognized whenearned and expenses are recognized when incurred.

RevenuesThe School's primary source of funding is through the State Public School Fund. TheSchool received $871,905 from the State based on eligible students in attendance paid overa monthly basis. State and Federal grants are on a cost reimbursement basis. An accrualis made when eligible expenses occur.

Fixed Assets and DepreciationFixed assets are recorded at historical cost or estimated historical cost if historical cost isnot available. Betterments that naturally add to the value of related assets or materiallyextend the useful lives of assets are capitalized. Normal building maintenance and minorequipment purchases are included as expenses of the School.



Note 1. Summary of Significant Accounting Policies (Continued)

Fixed Assets and Depreciation (Continued)Depreciation of fixed assets is calculated using the straight-line method over the estimateduseful lives of the assets. Depreciation expense totaled $44,148 for the year endedJune 30, 2008. The following are the estimated useful lives of the fixed assets of theSchool:

Improvements 4-5 YearsMachinery and Equipment 5-10 YearsBuilding 15 Years

Income TaxesThe School is recognized by the Internal Revenue Service as a Section 501(c)(3) tax-exempt organization.

Statement of Cash FlowsFor purposes of the Statement of Cash Flows, the School considers all investmentspurchased with an original maturity of three months or less to be cash equivalents.

Use of EstimatesThe preparation of financial statements in conformity with accounting principles generallyaccepted in the United States of America requires management to make estimates andassumptions that affect certain reported amounts and disclosures. Accordingly, actualresults could differ from those estimates.

ConcentrationsThe School received 55% of its revenues for the year ended June 30, 2008, from the Stateof Louisiana, subject to its charter school contract with the State.

Compensated AbsencesThe Board of Directors of the School grants all contracted employees of the School a totalof 10 days of sick/personal pay per year, provided, however, that the employee iscontracted for a full year. Contracted employees may carry over all unused sick/personaldays from year to year. The liability at June 30, 2008, is considered to be immaterial and isnot recorded in the accompanying financial statements.

Note 2. Cash and Cash Equivalents

As of June 30, 2008, cas h consists of demand deposits i n a local bank of $30,001.



Note 3. Fixed Assets

Depreciation expense for the year ended June 30, 2008, w as $44,148.

All assets acquired with Department of Education funds are owned by the School whileused in the purpose for which they were purchased. The Department of Education,however, has a reversionary interest in these assets. Should the charter not be renewed,title in any assets purchased with those funds will transfer to the appropriate agency.Assets purchased with private funds remain the property of the School.

Note 4. Retirement Plans

Certain employees of the School participate in the Teachers' Retirement System ofLouisiana (the TRSL). The TRSL is a cost-sharing, multiple-employer defined benefitpension plan administered and controlled by separate boards of trustees. Pertinentinformation relative to the plan follows:

Plan DescriptionThe TRSL provides retirement benefits as well as disability and survivor benefits. Ten yearsof service credit are required to become vested for retirement benefits, and five years tobecome vested for disability and survivor benefits. Benefits are established and amendedby state statute. The TRSL issues a publicly available financial report that includes financialstatements and required supplementary information for the TRSL. That report may beobtained by writing to the Teachers Retirement System of Louisiana, P.O. Box 94123, BatonRouge, LA 70804-9123.

Funding PolicyPlan members are required to contribute 8% of their annual covered salary. The School isrequired to contribute at an actuarially determined rate. The current rate is 16.6% of annualeligible covered payroll for the year ended June 30, 2008. Member contributions andemployer contributions for the TRSL are established by state law, and rates are establishedby the Public Retirement System's Actuarial Committee. The School's contribution to theplan for the year ended June 30, 2008, was $100,656, which is equal to the requiredcontribution for the year.

Note 5. Related Party Payable

Prior to July 1, 2007, The Giardina Family Foundation (the Foundation) paid for legal andprofessional services to incorporate and file for 501(c)(3) exemption status for The MaxineGiardina Charter School, Inc. The total expenses for these services totaled $27,023.During the year ended June 30, 2008, the School paid $4,875 to the Foundation leaving apayable at year end of $22,148.

SCHEDULES REQUIRED BY LOUISIANA STATE LAW(R.S. 24:514 - PERFORMANCE AND STATISTICAL DATA)

INDEPENDENT ACCOUNTANT'S REPORTON APPLYING AGREED-UPON PROCEDURES


We have performed the procedures included in the Louisiana Governmental Audit Guide andenumerated below, which were agreed to by the management of The Max Charter School (theSchool) and the Legislative Auditor, State of Louisiana, solely to assist users in evaluatingmanagement's assertions about the performance and statistical data accompanying the annualfinancial statements of the School and to determine whether the specified schedules are free ofobvious errors and omissions as provided by the Board of Elementary and Secondary Education(BESE) Bulletin. This agreed-upon procedures engagement was performed in accordance withstandards established by the American Institute of Certified Public Accountants and GovernmentAuditing Standards. The sufficiency of these procedures is solely the responsibility of the specifiedusers of the report. Consequently, we make no representation regarding the sufficiency of theprocedures described below either for the purpose for which this report has been requested or forany other purpose.

Our procedures and findings that relate to the accompanying schedules of supplementalinformation are as follows:

General Fund Instructional and Support Expenditures and Certain Local Revenue Sources(Schedule 1)

1. We selected a random sample of 25 transactions and reviewed supporting documentationto determine if the sampled expenditures/revenues are classified correctly and are reportedin the proper amounts for each of the following amounts reported on the schedule:

• Total General Fund Instructional Expenditures• Total General Fund Equipment Expenditures• Total Local Taxation Revenue• Total Local Earnings on Investment in Real Property• Total State Revenue in Lieu of Taxes• Nonpublic Textbook Revenue• Nonpublic Transportation Revenue

Findings:

None

Education Levels of Public School Staff (Schedule 2)

2. We reconciled the total number of full time classroom teachers per the schedule"Experience of Public Principals, Assistant Principals and Full Time Classroom Teachers"(Schedule 4) to the combined total number of full time classroom teachers per this scheduleand to the School's supporting payroll records as of October 1st.

3. We reconciled the combined total of principals and assistant principals per the schedule"Experience of Public Principals, Assistant Principals and Full Time Classroom Teachers"(Schedule 4) to the combined total of principals and assistant principals per this schedule.

4. We obtained a list of principals, assistant principals and full time teachers by classificationas of October 1st and as reported on the schedule. We traced each of the teachers to theindividual's personnel file to determine if the individual's education level was properlyclassified on the schedule.

Findings:

None

Number and Type of Public Schools (Schedule 3)

5. We obtained a list of schools by type as reported on the schedule. We compared the list tothe schools and grade levels as reported on the Title 1 Grants to Local EducationalAgencies (CFDA 84.010) application and/or the National School Lunch Program (CFDA10.555) application.

Findings:

None

Experience of Public Principals. Assistant Principals and Full Time Classroom Teachers(Schedule 4)

6. We obtained a list of principals, assistant principals and full time teachers by classificationas of October 1st and as reported on the schedule and traced the same sample used inprocedure 4 to the individual's personnel file and determined if the individual's experiencewas properly classified on the schedule.

Findings:

None

Public School Staff Data (Schedule 5)

7. We obtained a list of all classroom teachers including their base salary, extra compensation,and ROTC or rehired retiree status as well as full time equivalent as reported on theschedule and traced each to the individual's personnel file and determined if the individual'ssalary, extra compensation, and full time equivalents were properly included on theschedule.

Findings:

None

8. We recalculated the average salaries and full time equivalents reported in the schedule.

Findings:

None

Class Size Characteristics (Schedule 6)

9. We obtained a list of classes by school, school type, and class size as reported on theschedule and reconciled school type classifications to Schedule 3 data, as obtained inprocedure 5. We then traced a random sample of 10 classes to the October 1st roll booksfor those classes and determined if the class was properly classified on the schedule.

Findings:

None

Louisiana Educational Assessment Program (LEAP) (Schedule 7)

10. We obtained test scores as provided by the testing authority and reconciled scores asreported by the testing authority to scores reported in the schedule by the School.

Findings:

None

Graduation Exit Exam (Schedule 8)

11. Not applicable.

iLEAP Test Results (Schedule 9)

12. We obtained test scores as provided by the testing authority and reconciled scores asreported by the testing authority to scores reported in the schedule by the School.

Findings:

None

We were not engaged to, and did not perform an examination, the objective of which would be theexpression of an opinion on management's assertions. Accordingly, we do not express such anopinion. Had we performed additional procedures, other matters might have come to our attentionthat would have been reported to you.

This report is intended solely for the use of management of the School, the Louisiana Departmentof Education, the Louisiana Legislature, and the Legislative Auditor, State of Louisiana, and shouldnot be used by those who have not agreed to the procedures and taken responsibility for thesufficiency of the procedures for their purposes. Under Louisiana Revised Statute 24:513, thisreport is distributed by the Legislative Auditor as a public document.

v/A Professional Accounting Corporation

August 14, 2008

THE MAX CHARTER SCHOOLSchedules Required by State Law(R.S. 24:514 - Performance and Statistical Data)As of and for the Year Ended June 30, 2008

Schedule 1 - General Fund Instructional and Support Expenditures and Certain LocalRevenue SourcesThis schedule includes general fund instructional and equipment expenditures. It also containslocal taxation revenue, earnings on investments, revenue in lieu of taxes, and nonpublic textbookand transportation revenue. This data is used either in the Minimum Foundation Program (MFP)formula or is presented annually in the MFP 70% Expenditure Requirement Report.

Schedule 2 - Education Levels of Public School StaffThis schedule includes the certificated and uncertificated number and percentage of full timeclassroom teachers and the number and percentage of principals and assistant principals with lessthan a Bachelor's; Master's; Master's +30; Specialist in Education; and Ph. D or Ed. D. degrees.This data is currently reported to the Legislature in the Annual Financial and Statistical Report(AFSR).

Schedule 3 - Number and Type of Public SchoolsThis schedule includes the number of elementary, middle/junior high, secondary and combinationschools in operation during the fiscal year. This data is currently reported to the Legislature in theAnnual Financial and Statistical Report (AFSR),

Schedule 4 - Experience of Public Principals, Assistant Principals and Full Time ClassroomTeachersThis schedule includes the number of years of experience in teaching for assistant principals,principals, and fufl time classroom teachers. This data is currently reported to the Legislature in theAnnual Financial and Statistical Report (AFSR).

Schedule 5 - Public School Staff DataThis schedule includes average classroom teachers' salary using full time equivalents, includingand excluding ROTC and rehired retiree teachers. This data is currently reported to the Legislaturein the Annual Financial and Statistical Report (AFSR).

Schedule 6 - Class Size CharacteristicsThis schedule includes the percent and number of classes with student enrollment in the followingranges: 1-20, 21-26, 27-33, and 34+ students.

Schedule 7 - Louisiana Educational Assessment Program (LEAP)This schedule represents student performance testing data and includes summary scores by districtfor grades 4 and 8 in each category tested. Scores are reported as Advanced, Mastery, Basic,Approaching Basic, and Unsatisfactory.

Schedule 8 - Graduation Exit ExamNot applicable.

Schedule 9 - iLEAP Test ResultsThis schedule represents student performance testing data and includes a summary score forgrades 3, 5, 6, 7 and 9 for each district. The summary score reported is the Percentile Rankshowing relative position or rank as compared to a large, representative sample of students in thesame grade from the state. This schedule includes one period of data.

14

Schedule 1THE MAX CHARTER SCHOOLGeneral Fund Instructional and Support Expendituresand Certain Local Revenue SourcesFor the Year Ended June 30, 2008

General Fund lnstructiona(_a_nd Equipment ExpendituresGeneral Fund Instructional ExpendituresTeacher and Student Interaction Activities

Classroom Teacher Salaries $ 408,069Other Instructional Staff Salaries 50,324Employee Benefits 146,423Purchased Professional and Technical Services 24,931Instructional Materials and Supplies 81,177Instructional Equipment 10,432

Total Teacher and Student Interaction Activities $ 721,356

Other Instructional Activities 9,791

Pupil Support Activities 1,600Less: Equipment for Pupil Support Activities

Net Pupil Support Activities 1,600

Instructional Staff Services 15,070Less: Equipment for Instructional Staff Services

Net Instructional Staff Services 15,070

School Administration 168,891Less: Equipment for School Administration

Net School Administration 168,891

Total General Fund Instructional Expenditures $ 916,70 8_

Total General Fund Equipment Expenditures

Certain Local Revenue SourcesLocal Taxation Revenue

Constitutional Ad Valorem TaxesRenewable Ad Valorem TaxDebt Service Ad Valorem TaxUp to 1% of Collections by the Sheriff on Taxes

Other than School TaxesSales and Use Taxes

Total Local Taxation Revenue

Local Earnings on Investment in Real Property

Earnings from 16th Section PropertyEarnings from Other Real Property

Total Local Earnings on Investment in Real Property

State Revenue in Lieu of TaxesRevenue Sharing - Constitutional TaxRevenue Sharing - Other TaxesRevenue Sharing - Excess PortionOther Revenue in Lieu of Taxes

Total State Revenue in Lieu of Taxes

Nonpublic Textbook RevenueNonpublic Transportation Revenue

15


Education Levels of Public School Staff

As of October 1,2007

Schedule 2

Category

Less than a Bachelor's Degree

Bachelor's Degree

Master's Degree

Master's Degree + 30Specialist in EducationPh. D. or Ed. D.

Total

Full Time Classroom Teachers

CertificatedNumber

82

1

11

Percent

73%18%

9%

100%

UncertificatedNumber

_

Percent

0%

Principals & Assistant Principals

CertificatedNumber

1

1

Percent

100%

100%

UncertificatedNumber^

_

Percent

0%0%

0%0%0%

0%

16

Schedule 3THE MAX CHARTER SCHOOLNumber and Type of Public SchoolsFor the Year Ended June 30, 2008

TypeElementaryMiddle/Jr. HighSecondaryCombination

Total

Number1

1

17

Schedule 4

THE MAX CHARTER SCHOOLExperience of Public Principals, Assistant Principalsand Full Time Classroom TeachersAs of October 1, 2007

Assistant PrincipalsPrincipalsClassroom Teachers

Total

0 - 1 Yr.

0

2 - 3 Yrs.

3

3

4 -10 Yrs.

6

6

11 -14 Yrs.

0

15 -19 Yrs.

12

3

20 - 24 Yrs.

0

25+ Yrs.

0

Total

01

11

12

18

Schedule 5THE MAX CHARTER SCHOOL

Public School Staff DataFor the Year Ended June 30, 2008

All ClassroomTeachers

Classroom TeachersExcluding ROTC

Rehired Retirees, andFlagged Salary Reductions

Average Classroom TeachersSalary Including ExtraCompensation $42,729 $42,729

Average Classroom TeachersSalary Excluding ExtraCompensation $42,209 $42,209

Number of Teacher Full TimeEquivalents (FTEs) Used inComputation of Average Salaries 8.75 8.75

19

Schedule 6THE MAX CHARTER SCHOOLClass Size CharacteristicsAs of October 1, 2007

School TypeElementary Activity Classes

Class Size Range1 -20

Percent89%

Number8

21-26Percent11%

Number1

27-33Percent

0%

Number0

34+Percent

0%Number

0

20

THE MAX CHARTER SCHOOLLouisiana Educational Assessment Program (LEAP)For the Year Ended June 30, 2008

Schedule 7

District AchievementLevel Results

StudentsGrade 4AdvancedMasteryBasicApproaching BasicUnsatisfactory

Total

English Language Arts2008

Number

0061010

26

Percent

0%0%24%38%38%

100%

2007Number Percent

N/AN/AN/AN/AN/A

N/A

2006Number Percent

N/AN/AN/AN/AN/A

N/A

Mathematics2008

Number

006812

26

Percent

0%0%

23%31%46%

100%

2007Number Percent

N/AN/AN/AN/AN/A

N/A

2006Number Percent

N/AN/AN/AN/AN/A

N/A

District AchievementLevel Results

StudentsGrade 8AdvancedMasteryBasicApproaching BasicUnsatisfactory

Total

Science2008

Number

00101

2

Percent

0%0%50%0%

50%

100%

2007Number Percent

N/AN/AN/AN/AN/A

N/A

2006Number Percent

N/AN/AN/AN/AN/A

N/A

Social Studies2008

Number

00101

2

Percent

0%0%50%0%50%

100%

2007Number Percent

N/AN/AN/AN/AN/A

N/A

2006Number Percent

N/AN/AN/AN/AN/A

N/A

21

SchedulesTHE MAX CHARTER SCHOOLGraduation Exit ExamFor the Year Ended June 30, 2008

The Max Charter School is an elementary school; therefore, this schedule does not apply.

22

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SUPPLEMENTAL INFORMATION

THE MAX CHARTER SCHOOLSchedule of Governing Board

June 30, 2008

Compensation Compensation

Brian Aucoin1306 Park DriveThibodaux, LA 70301Treasurer

Dr. Deborah Bordelon316 North Canal Blvd.Thibodaux, LA 70301Board Member

Andrea Bollinger-GiardinaPO Box 250Lockport, LA 70374Board Member

Suzy Bourg320 Gaidry DriveGray, LA 70359Business Manager

Carol Broussard137 Alamo DriveHouma, LA 70360Vice-President

Karen ChauvinPO Box 2050Thibodaux, LA 70310President

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Travis Chiasson357 Choctaw RoadThibodaux, LA 70301Board Member

Dr. Albert DavisPO Box 2008Thibodaux, LA 70310Board Member

Mel Duplantis345 Bayou Blue RoadHouma, LA 70364Board Member

Jacob A. Giardina212 Rue ColetteThibodaux, LA 70301Board Chair

Dr. Cleveland 0. Hill2130 Highway 3185Thibodaux, LA 70301Principal

Dianne Savoie1130 Bayou Blue RoadHouma, LA 70364Secretary

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25

|>PORTE$EHRROM ic

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTINGAND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDITOF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH

GOVERNMENT AUDITING STANDARDS


We have audited the financial statements of The Max Charter School (the School), a nonprofitorganization as of and for the year ended June 30, 2008, and have issued our report thereon datedAugust 14, 2008. We conducted our audit in accordance with auditing standards generallyaccepted in the United States of America and the standards applicable to financial audits containedin Government Auditing Standards, issued by the Comptroller General of the United States.

Internal Control over Financial Reporting

In planning and performing our audit, we considered the School's internal control over financialreporting as a basis for designing our auditing procedures for the purpose of expressing our opinionon the financial statements, but not for the purpose of expressing an opinion on the effectiveness ofthe School's internal control over financial reporting. Accordingly, we do not express an opinion onthe effectiveness of the School's internal control over financial reporting.

A control deficiency exists when the design or operation of a control does not allow management oremployees, in the normal course of performing their assigned functions, to prevent or detectmisstatements on a timely basis. A significant deficiency is a control deficiency, or combination ofcontrol deficiencies, that adversely affects the School's ability to initiate, authorize, record, process,or report financial data reliably in accordance with generally accepted accounting principles, suchthat there is more than a remote likelihood that a misstatement of the School's financial statementsthat is more than inconsequential will not be prevented or detected by the School's internal control.

A material weakness is a significant deficiency, or combination of significant deficiencies, thatresults in more than a remote likelihood that a material misstatement of the financial statements willnot be prevented or detected by the School's internal control.

Our consideration of internal control over financial reporting was for the limited purpose described inthe first paragraph of this section and would not necessarily identify all deficiencies in internalcontrol that might be significant deficiencies or material weaknesses. We did not identify anydeficiencies in internal control over financial reporting that we consider to be material weaknesses,as defined above.

I in VRTILKANS MI-MOKIAI. BOULKVAKO, Sunu 200, MI-TAIKM., LA 70005-4958 • 504.835.5522 ' I-A.X 504.835-55355:100 Vtuvu;i.- WALK. Sunn 202, COVING-ION, LA 70433-4012 • 985.892.5850 * FA* 985.S92.Sy56

TOWN HALL wi«r. looitn PHKKINS Rowi,? STH. 200. HAION Rouoii. LA 70810-1797 • 225.206.5150 * FAX 225.296,5151\V WWJ.

RSM MeGladrey Network

Compliance and Other Matters

As part of obtaining reasonable assurance about whether the School's financial statements are freeof material misstatement, we performed tests of its compliance with certain provisions of laws,regulations, contracts, and grant agreements, non-compliance with which could have a direct andmaterial effect on the determination of financial statement amounts. However, providing an opinionon compliance with those provisions was not an objective of our audit, and accordingly, we do notexpress such an opinion. The results of our tests disclosed no instances of non-compliance orother matters that are required to be reported under Government Auditing Standards.

This report is intended solely for the information and use of management, the Board of Trustees,the Louisiana Legislative Auditor, the Louisiana Department of Education, and federal awardingagencies and pass-through entities and is not intended to be used by anyone other than thesespecified parties. Under Louisiana Revised Statute 24:513, this report is distributed by theLegislative Auditor as a public document.

A Professional Accounting Corporation

August 14, 2008

the max charter schoolapp1.lla.la.gov/publicreports.nsf/268464ef6bb96ec...the max charter school...

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