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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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