Charter schools are required to have an annual independent fiscal audit that is performed in accordance with generally accepted auditing standards. Charter schools must submit a copy of their annual audit to the authorizer, the county office of education, the State Controller, and the California Department of Education (CDE) by December 15 of each year. These audits also require that the Governmental Auditing Standards be used in conducting the audits, and if the Charter schools expend greater than $500,000 in federal funds, a single audits under Uniform Guidance must be performed.
Benefits to Our Clients
To offer the highest quality service to the many education-related entities we serve, Vicenti continues to stay ahead of industry changes through continuing education and working with the Office of the State Controller, Department of Education and the Fiscal Crisis and Management Assistance Team (FCMAT) on issues related to charter school accounting and auditing. In addition, we teach courses and workshops for charter school conventions and have written various accounting and compliance manuals used extensively throughout the industry.