What it is
A charter school runs on per-pupil state aid, and that aid rests on an enrollment count on one date. The audit also has to deal with federal and state grants, a management organization that may be a related party, and a facility lease that may be with an affiliate. This program lists the procedures for each, with the assertion and the evidence to collect.
Charter schools report under FASB or GASB depending on the state and authorizer, so the Overview tab asks you to record the framework first. The program flags the steps that change under the governmental framework. It is a five-tab workbook with completion tracking and tie-outs.
When to use it
- At planning, to decide the reporting framework and whether a single audit is required.
- During fieldwork on enrollment, grants and related party transactions.
- When the authorizer asks for the financial audit as part of charter renewal.
What’s inside
- Enrollment roster to state count and per-pupil aid recomputation
- Grant allowability, single audit threshold and restricted fund testing
- Management organization fee and facility lease procedures
- Payroll, disbursement, student activity and authorizer financial measures
- Risk assessment tab and tie-outs
Standard cited
This template follows ASC 958 / GASB / Uniform Guidance. It is written in our own words, except for phrases the standard requires the document to contain, with [bracketed placeholders] for client details, amounts in USD and dates as MM/DD/YYYY. Check it against the current standard and your firm’s methodology before use.
Questions
FASB or GASB: which applies?
It depends on the state law, the authorizer and the school’s legal form. Record it on the Overview tab. Some steps, such as net assets, apply only under FASB and are noted.
Is a single audit always required?
No. It is required when federal expenditures reach the threshold in the Uniform Guidance. The program has the auditor compute total federal expenditures and decide.
Why test the management company so closely?
Management and facility entities are often related parties with fees set by contract. The program tests fees to the agreement and evaluates disclosure and control.
Related templates
- Single Audit Major Program Determination Worksheet
- Uniform Guidance (2 CFR 200) Requirements Checklist for Award Recipients
- Audit Program: Independent School
- Charter School Enrollment and State Aid Reconciliation
Last updated 11/05/2026. All free templates.