Charter Schools

VLS has built an excellent reputation as a firm committed to providing top quality audit, accounting, and consulting services to our charter school clients.

There is a range of governance structures in charter schools.  The charter-granting agency has the responsibility to ensure that the charter schools for which they have granted charters are meeting the terms of their charter, are fiscally managed well, and are complying with all applicable laws.  VLS is an independent and uniquely positioned firm to provide assurance and tax services to charter schools, because our people have extensive experience with each type of structure and understand charter schools from a myriad of perspectives.

Who Needs This Service?

Charter schools are required to have an annual independent fiscal audit that is performed in accordance with generally accepted auditing standards.  Charter schools must submit a copy of their annual audit to the authorizer, the county office of education, the State Controller, and the California Department of Education (CDE) by December 15 of each year.  These audits also require that the Governmental Auditing Standards be used in conducting the audits, and if the Charter schools expend greater than $500,000 in federal funds, a Federal A-133 Single Audit must be performed.

Benefits to Our Clients

To offer the highest quality service to the many education-related entities we serve, VLS continues to stay ahead of industry changes through continuing education and working with the Office of the State Controller, Department of Education and the Fiscal Crisis and Management Assistance Team (FCMAT) on issues related to charter school accounting and auditing. In addition, we teach courses and workshops for charter school conventions and have written various accounting and compliance manuals used extensively throughout the industry.

Client Testimonial

"I received the (charter school's tax) returns, had them signed and now they're off to Uncle Sam. Thanks for being so organized, thorough and professional — since retaining you, we can honestly say that the audit process is almost, dare I say — enjoyable? Believe me, I speak from experience, there are other firms who do not operate as smoothly — you guys are truly on top of your game."
                                   — Jenifer Singleton, Assistant to the CFO, Century Housing, A Nonprofit Corporation