A message from the Arizona Auditor General:
As you are aware, the fiscal year (FY) 2023 charter school Annual Financial Report (AFR) package included a new Reserve Balance tab to report information on the amount and planned use of charters’ reserve balances to increase transparency and provide decision-makers, other stakeholders, and the public more complete financial information. The form also included an optional section to report information on existing charter reserve balance policies that will be required in FY 2024.
While we are aware of Senate Bill 1654, which proposes statutory changes to the AFR format, we are continuing to move forward with the stakeholder feedback process we described in our October 10, 2023, email, as your feedback is critical to the FY 2024 and FY 2025 forms. We will be holding virtual meetings to discuss the importance of reserve balance policies, answer questions about how to complete the form, and obtain feedback on the current forms format that we will consider for the FY 2024 AFR. We will also discuss the upcoming FY 2025 budget forms’ reserve balance tab that will provide clarity on charters’ planned spending and reserve balances during the budgeting process. We encourage you or any personnel from your school who are currently involved in completing the AFR and/or budget forms to attend one of these meetings to provide feedback on considerations that are important to your charter school.
We have scheduled 2 virtual meetings at the following times:
Tuesday, March 19, 2024, at 3:00 p.m.
Join on your computer, mobile app or room device—(Click here to join the meeting)
Or call in (audio only)—Dial +1 480-420-6360, Phone Conference ID: 644 517 128#
Tuesday, March 26, 2024, at 10:00 a.m.
Join on your computer, mobile app or room device—(Click here to join the meeting)
Or call in (audio only)—Dial +1 480-420-6360, Phone Conference ID: 453 279 354#
If you have any questions, please contact Tijana Djordjic, Accountability Services Senior, or Megan Smith, Accountability Services Manager, at asd@azauditor.gov or (602) 977-2796.
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