Our Services: Services to Charter Schools
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Outsourced Accounting Services // Consulting & Advisory Services


To download a one-pager on FMA Charter School Services, please click here.

Since 2003, Fiscal Management Associates (FMA) has supported school leaders, CMO’s, board members, and business managers in creating charter schools that excel in delivering the highest educational standards to students. Through our partnership with the New York City Charter School Center, as well as our continuing work with individual charter schools, FMA has been on the frontlines of the charter school movement. We help schools build fiscal infrastructure, manage ongoing accounting and reporting responsibilities, and prepare for external and state audits. FMA's services to charter schools include the following:


>>Development of Fiscal Management Systems, including:
  • Organization-wide budget, as well as supporting program-level budgets
  • Cost allocation plans
  • Cash flow analysis
  • Chart of Accounts
  • Templates for monthly and quarterly financial reports, including budget-to-actual comparisons
  • Identifying providers and consultants to assist with other critical systems, including payroll processing, employee benefits packages, and other human resource needs
Until the New York State (NYS) Supreme Court shut them down, the NYS Office of the State Comptroller completed audits of fourteen charter schools in New York City.

FMA reviewed the final audit reports for the fourteen schools and developed a summary of the findings. The results of FMA’s review can be found here.
>>Implementation of financial reporting software systems, including assistance with:
  • Purchase orders
  • Client billing (e.g. billing for meal / lunch programs)
  • Donor tracking / fundraising module configuration
  • Staff training on system usage and report customization
>>Development of a Customized Fiscal Policies and Procedures Manual

>>Outsourced Accounting and Fiscal Management Services, including:
  • Processing and recording vendor payments
  • Recording donations and other receipts
  • Recording payroll expenses
  • Reconciling bank accounts
  • Preparing financial report packages
  • Managing the financial reporting and vouchering process for grants and contracts
>>Audit Preparation Support

"Our last audit went great. The auditor was very complimentary about our readiness, which wouldn't have happened without FMA's help. So we're all very happy."

Bruce Alleborn
Director of Finance and Administration,
Harlem Day Charter School


For more information, please contact Terence Cook or Amy Gudgeon



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