OAR 581-026-0210
Annual Financial Reporting

(1)

Intentionally left blank —Ed.

(a)

A public charter school required to comply with ORS 338.035 (Establishment requirements)(2)(a)(B) and (C) shall have an annual audit of the accounts of the public charter school prepared in accordance with the Municipal Audit Law, ORS 297.405 (Definitions for ORS 297.020, 297.230, 297.405 to 297.740 and 297.990) to 297.555 (Short title) and 297.990 (Penalties).

(b)

A public charter school that meets the definitions and criteria in ORS 338.035 (Establishment requirements)(6)(b) (A), (B), (C) and (D), may be treated as the same legal entity as the school district and is not required to submit a separate audit. The public charter school must comply with OAR 581-026-0200 (Financial Management System) and must be included in the audit of the sponsoring district. The district audit for the public charter school must minimally include:

(A)

An audit of all accounts and funds associated with the public charter school;

(B)

A summary of significant accounting policies, cash and investments, and internal controls; and

(C)

A statement of activities and a balance sheet containing a summary of the assets and liabilities of the public charter school as of the closing date of the preceding annual audit period for the school.

(2)

After an audit, the public charter school shall forward a copy of the annual audit to the Department of Education.

(3)

After an audit, the public charter school shall forward the following to the sponsor:

(a)

A copy of the annual audit;

(b)

Any statements from the public charter school that show the results of all operations and transactions affecting the financial status of the public charter school during the preceding annual audit period for the school; and

(c)

A balance sheet containing a summary of the assets and liabilities of the public charter school as of the closing date of the preceding annual audit period for the school.

Source: Rule 581-026-0210 — Annual Financial Reporting, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=581-026-0210.

581‑026‑0005
Definitions 581‑026‑0050
Public Charter School Proposal Submission and Completeness 581‑026‑0055
Public Charter School Proposal Review and Resubmission 581‑026‑0060
Public Charter School Proposal Reconsideration 581‑026‑0065
Appeal Process 581‑026‑0100
Development and Execution of a Charter 581‑026‑0110
Public Charter School Mediation Provided by the State Board of Education 581‑026‑0120
Charter School Development Timelines 581‑026‑0125
Timeline Extensions 581‑026‑0130
Procedure to Waive Certain Provisions of the Charter School Law 581‑026‑0200
Financial Management System 581‑026‑0210
Annual Financial Reporting 581‑026‑0300
Virtual Public Charter Schools 581‑026‑0305
Virtual Public Charter School Student Enrollment 581‑026‑0310
Virtual Public Charter School Student Enrollment Appeal Procedure 581‑026‑0400
Process to Renew Charter 581‑026‑0405
Appeal of Sponsor’s Decision Not to Renew a Charter 581‑026‑0500
Process for Sponsor to Terminate Charter 581‑026‑0505
Process to Appeal Decision by Sponsor to Terminate Charter 581‑026‑0510
Process for Charter School Governing Body to Terminate Charter and Dissolve Public Charter School 581‑026‑0515
Distribution of Assets of a Terminated or Dissolved Public Charter School 581‑026‑0600
Public Charter School Facility Location 581‑026‑0700
Participation in District Interscholastic Activities for Students Who Attended a Public Charter School 581‑026‑0710
District Fees for Interscholastic Activities for Students Who Attend a Public Charter School
Last Updated

Jun. 8, 2021

Rule 581-026-0210’s source at or​.us