manara academy nov. 17 th, 2012 2012 annual financial report 1 2012 annual financial management...
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MANARA ACADEMYNOV. 17 T H , 2012
2012 Annual Financial Report
2012 Annual Financial Management Report
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Outline
2012 Annual Financial Report
- What is School FIRST?- 2011 School FIRST- 2012 School FIRST- Conclusion
School FIRST/Charter FIRST
2012 Annual Financial Report
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Financial Integrity Rating System of TexasAdopted in Dec. 2007 for School DistrictsImpacts school accreditation.May impact the special education
determination statusIs a group of accountability indicators to test
againstFIRST Rating on TEA’s website.
2011 Charter FIRST
2012 Annual Financial Report
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3 financial accountability indicators onlySource of data is the 2009-2010 annual
financial audit3 possible Ratings:
Standard Achievement Substandard Achievement Suspended-Data Quality (affects accreditation for the
year 11-12)Must receive a “Yes” on all 3 indicators to
achieve “Standard Achievement” rating.Our district received a “Standard Achievement”
2012 Charter FIRST
2012 Annual Financial Report
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Add the financial solvency provisionsAdd PEIMS Standard data provisions21 indicators (just like school districts)-
changed later to 19 indicatorsPossible ratings would be:
Superior Achievement Above Standard Achievement Standard Achievement Substandard Achievement Suspended-Data Quality
Rating for Manara Academy
2012 Annual Financial Report
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2012 Ratings for Charter SchoolsSelect 2010-2011 from the dropdownClick the district number to display indicatorsPassed the first 6 indicatorsReceived highest scores (5 out of 5) for
indicators 7 to 18.Could not meet indicator # 19 (Investment
Earnings) – TEA is reconsidering this indicator.
Compensations and Gifts
2012 Annual Financial Report
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Reported compensations & reimbursements to the Superintendent & Board of Trustees members for the 2010-2011 year.
Reported gifts received from external entities (by superintendent or charter holder) – none.
Superintendent
Board President
Board V. President
Board Member 1
Board Member 2
Board Member 3
Board Member4
$37,805* $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
* The amount forms 50% of contract total as the person is split between the Superintendent and the Principal two roles.
Financial Solvency Inputs
2012 Annual Financial Report
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Annual total expenditures from General Operating fund.
Capital outlaysDefault on borrowed fundsWhether the Charter declared bankruptcy
within the last 2 yearsStaff to WADA ratioNumber of superintendents and business
managers in the last 3 years.
Conclusion
2012 Annual Financial Report
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Improved financial performance for 2010-2011 relative to previous year (2009-2010).
No corrective actions required.Expected further improvement and similar
results from 11-12 fiscal year.Investing School funds - numerous factors
come to play….The state investments in public education are
massive-Charter districts are gaining popularity.
Questions
2012 Annual Financial Report
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?!
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