Purpose of Audit

The purpose of our audit was to examine the student enrollment and billing process for the period July 1, 2011, to August 31, 2012.

Background

A charter school is a public school financed by local, State, and Federal resources that is not under the control of the local school board and is governed under Education Law Article 56. The KIPP Tech Valley Charter School, located in the City of Albany, Albany County, is governed by a Board of Trustees which comprises eight voting members. The School was established in 2004 under SUNY authorization and provides elementary education for approximately 300 students in the fifth through the eighth grades. The School’s budgeted operating expenses for the 2012-13 fiscal year are about $4.4 million.

Key Findings

• We reviewed four resident school district bills for three resident school districts whose students comprised an average of 95 percent of the student population during the 2011-12 and 2012-13 fiscal years to determine whether the billing invoices were accurate and supported. The School accurately billed the school districts of residence.
• The School maintained adequate supporting documentation for the students reviewed.
• At the end of the fiscal year, the Finance Manager completes a reconciliation of amounts billed and collected. We reviewed his reconciliation for the 2011-12 school year and the reconciliation appeared reasonable.

Key Recommendation

• There are no recommendations for this report.