This page provides information and Resources on charter school budgets, financial management, and fundraising. Because of variations in state laws, however, the materials presented here cannot cover specific state requirements. Instead, they are designed to provide examples and should not be viewed as a substitute for qualified financial counsel. Working within financial constraints, innovative charter school developers create innovative budgets to make the most of limited funds. The fiscal management standards and practices used by charter schools vary widely.
Some states require charter schools to use a state-mandated accounting system and audit process.
Other states allow the charter school to determine its own processes and hire its own independent auditor. Schools receiving large amounts of federal funds may also need to comply with various federal standards regarding accounting and auditing. See the ESEA Compliance Supplement for guidance in this area. Charter developers who manage their own funds need to understand the accounting and audit procedures and laws applicable to them and then establish a workable system to account for their funds. Our Resources section provides additional information that may be helpful in developing your school's budget and longer-term financial plan.