2011 Annual Financial

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10 Νοε 2013 (πριν από 3 χρόνια και 11 μήνες)

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2011 Annual Financial
Management Report

Manara

Academy

Oct. 15
th
, 2011

2011 Annual Financial Report

1

O
utline

-
What is School FIRST?

-
How did we do on 2009
-
2010?

-
2011 School FIRST for Charter Schools

-
Manara

Academy’s 2011 School FIRST

-
How did we do on 2010
-
2011?

-
2012 School FIRST for Charter Schools


2011 Annual Financial Report

2

School FIRST


Financial Integrity Rating System of Texas


Adopted in Dec. 2007, TEA takes into
consideration when assigning accreditation.


2011 School FIRST is based on the 09
-
10 Fiscal
year.


3 possible Ratings:


Standard Achievement


Substandard Achievement


Suspended
-
Data Quality (affects accreditation for the
year 11
-
12)

2011 Annual Financial Report

Manara Academy
3

Charter FIRST


3 financial accountability indicators


Source of data is the 2009
-
2010 annual
financial audit


Must receive a “Yes” on all 3 indicators to
achieve “Standard Achievement” rating.


FIRST rating may impact the special education
determination status of a charter district too!!

2011 Annual Financial Report

Manara Academy
4

2011 Annual Financial Report

Manara Academy
5

Statement of Financial Position

2011 Annual Financial Report

Manara Academy
6

Statement of Activities


As of June 2010

2011 Annual Financial Report

Manara Academy
7

What else is Required?


Report Reimbursements to the
Superintendent and Board of Trustees
members for the 2009
-
2010 year.


Post the current superintendents contract on
the school’s website for 12 months.





2011 Annual Financial Report

Manara Academy
8

Superintendent

Board
President

Board V.

Presiden
t

Board

Member
1

Board
Member
2

Board
Member


3

Board
Member

4

$45,000.00

$0.00

$522.52

$2,283.75

$0.00

$0.00

$0.00

2012 Charter FIRST


Add the financial solvency provisions


21 indicators (just like school districts)


Possible ratings would be:


Above Standard Achievement


Superior Achievement


Standard Achievement


Substandard Achievement


Suspended
-
Data Quality


2011 Annual Financial Report

Manara Academy
9

Statement of Financial P.


unaudited

As of June
-
2011


2011 Annual Financial Report

Manara Academy
10

Statement of Activities

unaudited

As of June, 2011


2011 Annual Financial Report

Manara Academy
11

Are We Prepared for this Year?


10
-
11 F.Y. Audit scheduled for Oct. 31st.


No major adjusting entries expected to
materially change internally prepared financial
statements.


One added indicator for 2012 FIRST rating is
for Charter districts to maintain approximately
60 days of operating expenses in their general
fund account.


2011 Annual Financial Report

Manara Academy
12

Questions


?!

2011 Annual Financial Report

Manara Academy
13