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AAFCPAs to Present Workshop on Anticipating Fraud for Charter Schools

Leaders in AAFCPAs’ Education Practice, John Buckley, CPA, CGMA, and Nichole Reilly, CPA, will present an educational webinar: Is Fraud Preventable? Safeguard Your Charter Public School’s Fiscal Operations in collaboration with the Massachusetts Charter Public School Association (MCPSA) on June 3rd, 2021. This session is open to board members, school leaders, and CFO/COOs. Recent events […]

High-Profile Charter School Fraud: Lessons Learned

As you may now be aware, the Charter School community was shocked by recent news that Democracy Prep founder Seth Andrew was charged with stealing school funds. Andrew is a key figure in the rise of charter schools in New York and he went on to work as an education adviser to the Obama administration. […]

Charter Schools Webinar OnDemand: Understand COVID Funding Compliance

Charter Schools Webinar OnDemand: Understand COVID Funding Compliance

In response to the COVID-19 pandemic, Charter Schools have gained access to various forms of government funding. Schools who expended certain government funding in excess of $750,000 in fiscal year 2021 are subject to an audit in accordance with Uniform Guidance. For some charter schools, this may be your first exposure to this rigorous Federal […]

AAFCPAs’ John Buckley to Serve on Board of Worcester State Foundation

AAFCPAs’ John Buckley to Serve on Board of Worcester State Foundation

AAFCPAs Partner John Buckley, CPA, CGMA has been appointed and agrees to serve on the Board of Directors of Worcester State Foundation. John will serve as a fiduciary of the Foundation, providing strategic direction and financial advice to help the organization achieve its mission to promote the growth and progress of Worcester State University beyond […]

ESSER Funds May Subject Charter School to Federal Single Audit

In response to the COVID-19 pandemic, federal funding has been available to charter schools through the Massachusetts Department of Elementary and Secondary Education (DESE) under the Coronavirus Aid, Relief and Economic Security (CARES) Act.  The most significant of this funding is the Elementary and Secondary School Emergency Relief (ESSER) funds. While these funds are and […]

Massachusetts DESE Issues New Guidance on Approval of Annual Financial Statement Audit

AAFCPAs would like to make our Massachusetts education clients aware that in July 2020, the Massachusetts Department of Elementary and Secondary Education (DESE) issued the final version of their audit guide to be used for fiscal year 2020 financial statement audits. The only change from the prior version related to Section 201: Administering the Audit, […]

Charter Schools Connect: Managing the Remote Business Office

Charter Schools Connect: Managing the Remote Business Office

COVID-19 has challenged businesses to think about operations in a new way. In this 11-minute webcast, AAFCPAs’ Charter School Practice Leaders John Buckley, CPA, CGMA and Nichole Reilly, CPA, MBA share insights and best practice recommendations for Charter School clients about overcoming internal control and segregation of duties challenges for a remote business office. AAFCPAs […]

Accounting Considerations When Establishing an Emergency Relief Fund

Charter Schools across the country have stepped up to assist families during this unprecedented time.  In addition to successfully adapting to entirely remote learning and providing tools such as laptops and other technology, many Charter Schools provide curbside pickup meals to their students.  As this worldwide pandemic continues, many Charter Schools have established Emergency Relief […]

Charter Schools Not Exempt from MA Paid Family and Medical Leave Law

AAFCPAs would like to make charter school clients aware that the Massachusetts Department of Family and Medical Leave recently issued a policy clarification related to certain excluded employers of the new Paid Family and Medical Leave (PFML) law. Municipalities, districts, political subdivisions, and other agencies are excluded from PFML law unless they choose to opt-in. […]

To Stay Secure, Think Like a Fraudster

To Stay Secure, Think Like a Fraudster

Take the case of one private secondary school, where the business officer was accused of cutting checks worth more than $50,000 to pay for personal travel expenditures. He entered the transactions into the school record as payments for school travel. Because the hotels and airlines were the same companies the school used for professional development, […]