Financial objectives, plans, and waivers

Financial objectives, plans, and waivers

13. 
    State the school’s Financial Goals and Measures.
    

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  School financial performance objectives should reflect where the school envisions itself financially at the end of the charter term.
  
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  Objectives should emphasize fiscal health and sustainability.
  

14. 
    What specific actions will the school take to achieve the financial performance objectives?
    

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  Describe the financial innovations that will be implemented during the proposed charter term.
  
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  Provide a clear explanation of how the innovations will increase financial effectiveness.
  
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  Describe why the innovations are appropriate for this unique school.
  

15. 
    Which of the specific actions in the financial plan require a waiver of state law, rule, or guidelines?
    

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  Although you will be granted a broad flexibility waiver if you are granted a charter, please provide examples of a significant component of your financial plan for which you need a waiver – and the waivers that are required to allow the implementation of that component.
  

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  Explain who will manage the school’s finances, including fiscal controls, internal accounting and reporting procedures. Describe the financial systems that will be established for daily business operations to manage cash flow, purchasing, payroll, and audits. What financial documents and statements will the school regularly produce? Who will prepare them? How often? Who will review them and for what purpose? Describe your plan to ensure sufficient financial controls through segregation of duties.
  
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  Identify the representatives of the school who will be responsible for the financial management of the charter, and describe plans to procure and maintain during the entire length of the charter a Crime/Fidelity Bond covering all persons receiving or disbursing funds. The APS required bond amount is $1 million.
  
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  Please identify the individual who will serve in the capacity of Chief Financial Officer. Per state guidance, at a minimum the individual must possess the following qualifications: (a) A baccalaureate or higher degree in business, accounting, or finance from an accredited college or university and minimum of four years’ experience in a field related to business or finance; or (b) Documented experience of ten or more years in the field of business and financial management. Please include the CFO’s resume with Appendix.
  

Please use the budget instructions and templates provided through the Georgia Department of Education website to complete questions 1 and 2 below. For the 2017 – 2018 school year, use the Estimated Petitioner Earnings Worksheet (found at http://www.atlantapublicschools.us/Page/783). This is only an estimate, actual funding levels will either be more or less than this amount and depend not just on extrinsic factors (tax revenues, QBE allotments, austerity measures), but intrinsic factors (student characteristics, school programs, teacher training and experience).

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  Provide a monthly cash flow projection detailing revenues and expenditures for the charter school’s first two (2) years of operation and for the year prior to opening (Year 0). Also provide contingency cash flow spreadsheets projecting revenues and expenditures that assume one-half (1/2) of the projected student enrollment for the first two (2) years of operation. All budgets should be included in the Appendix.
  

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  Please provide a detailed budget narrative that explains all budget assumptions. As part of your budget narrative, detail your contingency plan should you experience a budget shortfall, lower than anticipated student enrollment, higher than expected personnel costs, underestimated costs of technology maintenance, and any other costs that could be potential operational difficulties. Explain how the school will make certain sufficient funds are available to cover any special education costs incurred (include with Appendix).
  

student admissions

16. 
    How will students be admitted to the charter school?
    

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  What is the school’s attendance zone?
  
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  Please check any of the following enrollment priorities pursuant to O.C.G.A. § 20-2-2066(a)(1) that apply put them in the rank order in which you will use them. If the school will not utilize any enrollment priorities, please leave this section blank.
  

□ A sibling of a student enrolled in another local school designated in the charter

□ A student whose parent or guardian is a member of the governing board of the charter school or is a full-time teacher, professional, or other employee at the charter school

□ Students matriculating from a local school designated in the charter

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  Describe the rules and procedures that will govern admission and registration. Please note that “enrollment priorities”, “admission” and “registration” are different concepts. To avoid confusion the Department recommends the following:
  
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    “enrollment priorities” describe those students granted priority pursuant to O.C.G.A. § 20-2-2066(a)(1);
    
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    "admission" describes pre-lottery processes and forms; and
    
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    "registration" describes post-lottery processes and forms after the student has been offered a seat at the school through enrollment priorities or the lottery process.
    
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  How will the charter school reach students representative of the racial and socioeconomic diversity in the school system?
  
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  How does the school plan to recruit students and maintain/increase enrollment?
  

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  Provide evidence that there is sufficient interest in your school to meet your requested maximum enrollment. Convey clearly and concretely the scope of community backing for the proposed charter school and its founding board. (include in the Appendix).
  
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  Provide a description of the method used to recruit the number of anticipated students and a statement setting forth the school’s plan for maintaining and/or increasing attendance.
  
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  Provide the calendar to be used for recruiting, registering, and admitting students the initial year, and years following.
  
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  Please include a copy of your proposed parent/student handbook in the Appendix.
  

The charter school must be open to any student who resides within the City limits of Atlanta. The charter school can only enroll students who reside within the City limits of Atlanta. The only eligible out-of-district enrollees are children of teachers, staff, and board members of the charter school.

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  Include a plan for an admission’s lottery if the number of applicants exceeds the school.
  
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  Describe the policies and procedures that will guide the admission, enrollment and withdrawal of students, including verification of city residency. Indicate any priorities for enrollment. Indicate any specific targeted traditional school attendance zones and/or City Neighborhood Planning Units (NPU) capacity.