Private K-12 Schools

A recent survey of clients of CPA firms asked what their number one complaint was. They answered that their CPAs did not "know" their industry.

VLS is recognized throughout the State of California as a leading educational industry auditing firm.  We specialize in audits of K-12 schools and understand the issues facing our clients. We have learned that one important key to a successful audit, regardless of the size or scope, is communication. Throughout the audit process, VLS communicates the results of the audit process with you to help us further understand the operating environment and ensure that there are no surprises.

Who Needs This Service?

VLS has worked with private K-12 schools of all types and understands the unique financial issues educational organizations encounter and provides solid industry expertise.

Benefits to Our Clients

We can assist our private K-12 clients in the following areas:

• Audits, reviews and compilation engagements
• Financial analysis, including performance measurement ratios
• The development of internal, interim financial reporting to administration and trustees
• Strategic planning support
• Compensation studies
• Tuition pricing and competition studies
• Training of your accounting office staff
• Utilization of restricted resources, including endowment funds
• Development and management of endowment spending rates
• Proper accounting and financial reporting for restricted resources
• Federal Title IV student financial aid compliance
• Allocation of common costs to departments and functional areas
• Internal control assessments
• Improving utilization of technology in accounting and business processes
• IT system security issues
• Development of financial policies
• Defining governing board financial oversight responsibilities, including duties of an audit committee
• Monitoring of compliance with bond financial covenants
• Planned giving
• Tax compliance pertinent to exempt organizations
• Fraud investigations