Education
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 […]
Chapter 257 Salary Report Due by January 15, 2021
Updated 10.21.20: The Executive Office of Health and Human Services (EOHHS) has extended the deadline for the Chapter 257 Salary Report for FY 2019 – FY 2021. Please note that the Salary Report submission date is now January 15, 2021 to coincide with the submission of the FY2020 UFRs. This report is required by Chapter […]
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, […]
Overcome Cyber Security Challenges of a Remote Workforce
COVID-19 has challenged businesses to think about operations in a new way, and in many cases, your IT specialists may be supporting students and faculty for the first time ever that were never intended or conceived to be remote or fully remote. With an increased risk of students and faculty falling prey to cyber-attacks, AAFCPAs […]
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 […]
Cancelled Fundraising Events, Written Notice Requirements
On March 10, 2020 MA Governor Charlie Baker declared a state of emergency for the Commonwealth of Massachusetts in response to the spread of the Coronavirus. The Governor’s administration offered guidance to the public to limit or eliminate attendance at large gatherings. As a result, several of AAFCPAs’ nonprofit clients have made the difficult decision […]
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
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, […]