Charter Currents: “One-Time” Funds Present High-Stakes Accounting Questions for Nonclassroom-Based Charter Schools

Published February 26, 2016 15:37

For the fifth year in a row, the 2015-16 state budget provided schools with substantial “one-time” funds, including both (1) a per-ADA grant for mandated costs and other one-time purposes and (2) a more restrictive Teacher Professional Development Grant. While additional funding is always welcome, these one-time funds present potentially serious challenges to nonclassroom-based schools as they seek to meet restrictive spending and budget reserve requirements. This article addresses key accounting principles and the related options that nonclassroom-based schools should consider, in consultation with their independent auditor, as they account for and report on these one-time funds...

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