Charter School Updates

GASB Proposes to Defer the Effective date of Statement No. 87, Leases:
April 30, 2020
2016 Charter School Audit Guide Update
September 29, 2016

Changes were made to the Charter School Audit Guide in fiscal year 2016. They consist of the increase in the threshold from $500K to $750K for a Uniform Guidance audit (formerly an OMB Circular A-133 audit). The sample financial statements have been revised to satisfy these changes, as well as Government Accounting Standards Board (GASB) No. 68 requirements (on-behalf of pension).


Charter School Deadlines

Be aware of the critical dates that pertain to charter schools

November 2nd – Audit reports are due to the Massachusetts Department of Elementary and Secondary Education (DESE). 

December 1st – Charter School End of Year Financial Report due to DESE.