Florida Auditor General Draft 2014 Rules: Chapter 10.850

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The Florida Auditor General has released a draft of their proposed 2014 rules (Chapter 10.850 – Audits of Charter Schools and Similar Entities, Florida Virtual School and Virtual Instruction Program Providers) which will be effective for the 6-30-2014 fiscal year audits.

Two significant changes are as follows:

1. The auditors must now include procedures to determine whether or not the charter school met one or more of the conditions described in Section 218.503(1), Florida Statutes. These conditions are as follows:

218.503(1)(a) Failure within the same fiscal year in which due to pay short-term loans or failure to make bond debt service or other long-term debt payments when due, as a result of a lack of funds.
218.503(1)(b) Failure to pay uncontested claims from creditors within 90 days after the claim is presented, as a result of a lack of funds.
218.503(1)(c) Failure to transfer at the appropriate time, due to lack of funds:

                                            1. Taxes withheld on the income of employees; or
                                            2. Employer and employee contributions for:

                                                             a. Federal social security; or
                                                          b.    Any pension, retirement, or benefit plan of an employee.
218.503(1)(d) Failure for one pay period to pay, due to lack of funds:

                                            1. Wages and salaries owed to employees; or
                                            2. Retirement benefits owed to former employees

2. The auditors must now include procedures to determine whether or not the charter school maintains on its website the information specified in Section 1002.33(9)(p), Florida Statutes as follows.

1002.33(9)(p) Each charter school shall maintain a website that enables the public to obtain information regarding the school; the school’s academic performance; the names of the governing board members; the programs at the school; any management companies, service providers, or education management corporations associated with the school; the school’s annual budget and its annual independent fiscal audit; the school’s grade pursuant to s. 1008.34; and, on a quarterly basis, the minutes of governing board meetings.

The rules are open for comment until June 16, 2014. The draft rules can be found here: http://www.myflorida.com/audgen/pages/whatsnew.html

Mike Brynjulfson
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