The Indiana Charter School Board ("ICSB") Accountability System sets forth goals and measures for the school and is used to evaluate the academic performance, financial health, and organizational compliance of each school authorized by the ICSB. At its core, the Accountability System poses three critical questions:
- Is the school's educational program demonstrating success?
- Is the school in good financial health?
- Is the organization in compliance with applicable laws and regulations, and with the Charter Agreements?
To ensure each school is meeting the above goals, ICSB requires its authorized schools to submit a variety of data and information. These Reporting Requirements are designed to ensure prudent authorizer oversight without overburdening school leaders. The reporting requirements are organized by date, and the documents cover all reports necessary for general monitoring as well as fulfillment of the annual reporting requirements.
ICSB provides information in the Governing Board Requirements Policy regarding the laws governing charter school organizer governing boards.
This information is used to publish the ICSB Annual Report. In addition, the ICSB may conduct monitoring site visits at its discretion if the submitted data indicates concerns regarding the school's progress toward meeting academic success, financial health and organizational compliance.
- Reporting Requirements
The reporting requirements are organized by date, and the documents cover all reports necessary for general monitoring as well as fulfillment of the annual reporting requirements.
- Governing Board Requirements
Charter school governing boards must materially comply with applicable laws, rules and regulations, and all relevant provisions of the charter agreement relating to governance of the school by the governing board.
Financial Reporting Documents
The documents below provide guidance on the ICSB's financial reporting requirements as set forth in the charter agreement.
- Financial Reporting Guidelines
This document provides charter schools authorized by the ICSB with clear guidance regarding all financial reports required by the ICSB, the Indiana Department of Education ("IDOE"), and the State Board of Accounts ("SBOA").
- Annual and Quarterly Financial Report
This document is the financial reporting submission form that schools authorized by the ICSB are required to either use, or model through reports generated by a third-party bookkeeping firm or internal accounting software package.
- Escrow Account Requirements
This document is the ICSB's policy regarding escrow accounts, required under Section 3.7 of the Charter Agreement.
- Model Audit RFP
This document is a model RFP that schools may use in order to identify an independent auditor or auditing firm in compliance with SBOA requirements.