Wisconsin Administrative Code › Department of Public Instruction › Chapter PI 35 - Milwaukee Parental Choice Program › Section PI 35.045 - Financial reporting requirements and determining costs

Current through June 24, 2024
(1) Annually, by
			 September 1 following a school year of operation under the choice program, a
			 private school participating in the Milwaukee parental choice program shall
			 submit, on a form provided by the department, a financial information report
			 identifying the operating nature of the private school as required under s.
			 PI 35.047(12)
			 (a) and accompanied by the auditor's opinion
			 statement required under s.
			 PI 35.046(1)
			 (a) containing the following information for
			 the previous school year:
(a) Revenues and
			 expenditures for all programs of the private school and the amount attributable
			 to kindergarten through grade 12 educational programs.
(b) A statement of net choice program assets
			 at the start and end of the school year.
(c) Enrollment and full-time equivalent
			 membership for all pupils and for pupils participating in the Milwaukee
			 parental choice program based on audited enrollments required under s.
			 PI
			 35.04(9).
(d) A statement of cash flows.
(e) Such other information necessary for the
			 fair determination of educational programming cost.
(f) Per pupil cost related to kindergarten
			 through grade 12 educational programming computed on a full-time equivalent
			 membership basis.
(g) The payment
			 adjustment amount resulting from the private school's participation in the
			 Milwaukee parental choice program during the previous school year. The payment
			 adjustment amount shall be determined as follows:
1. The private school's educational
			 programming cost shall be reduced by the following offsetting revenues:
a. Fees charged pupils for books and supplies
			 used in classes and programs.
b.
			 Rentals for school buildings.
c.
			 Food service revenues.
d.
			 Governmental financial assistance revenues.
e. Interest earnings and other income
			 resulting from investment of debt proceeds.
2. The private school's per pupil cost shall
			 be determined by dividing the net eligible educational programming cost
			 determined under subd. 1. by the membership for all pupils enrolled in
			 kindergarten through grade 12 educational programs.
3. The private school's membership of pupils
			 participating in the Milwaukee parental choice program shall be multiplied by
			 the lesser of the amount determined under s.
			 119.23(4)
			 (b) 2, Stats., or the private school's per
			 pupil cost under s.
			 119.23(4)
			 (b) 1, Stats. If the result is greater than
			 the amount of the choice program payments retained by the school, an adjustment
			 payment shall be made to the private school within 60 days of the financial
			 information report certified by the department. If the result is less than the
			 amount of the choice program payments retained by the private school, the
			 private school shall refund the amount of any overpayment to the department
			 within 60 days of notification.
Note: The Financial Reporting Form may be obtained at no charge
				from the Department of Public Instruction, Milwaukee Parental Choice Program,
				P.O. Box 7841, Madison, WI 53707-7841.