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Private School Choice Programs-Financial Audit

The auditor is required to complete a financial audit for all participants in the Private School Choice Programs by the following October 15.  The Financial Audit & PSCP/SNSP Reserve Balance Bulletin includes information on the additional paragraph required in the audit opinion.

2021-22 Financial Audit

 

Report Submission

The PDF version of the financial audit, which includes the reserve balance schedule as part of the submitted report, the Excel version of the reserve balance schedule, and the school's management letter (if required) must be loaded to the 2021-22 Financial Audit Kiteworks folder by October 15th.  The documents loaded to Kiteworks should use the following naming conventions:

  • Financial Audit: {School Name on Reserve Schedule} 21-22 Financial Audit
  • Reserve Balance Schedule: {School Name on Reserve Schedule} 21-22 Reserve Sch
  • Management Letter: {School Name on Reserve Schedule} 21-22 Mgmt Ltr

All auditors on the auditor listserve and all Choice & SNSP administrators will be given access to the folder. Please be aware you will not be able to see reports loaded by any other individual. Faxed, emailed, or mailed copies or links to Google docs will not be accepted. See the Kiteworks Instructions for information on how to load the report and set up your account.

All reserve balance schedules are now provided through Kiteworks.  See the Kiteworks Instructions for information on how the auditor can access the documents in Kiteworks.

  Auditor Access School Access PDF of Schedule (Submission Must be Completed Using Excel Version)
Reserve Balance Schedule for Schools Only Participating in PSCP Available in Kiteworks to those on Auditor Listserve If a school needs access, email DPI to request your school's blank reserve balance schedule.
Reserve Balance Schedule for SNSP Participants Partner on Engagement Can Obtain in Kiteworks If a school needs access, email DPI to request your school's blank reserve balance schedule.

 

2020-21 Financial Audit

The following schedules can be used for schools only participating in the Choice programs.

The standard reserve balance schedules for schools participating in the Special Needs Scholarship Program (SNSP) are available in Kiteworks for the auditor on the school's Auditor Authorization form. Since the SNSP Reserve Balance Schedule is 2 pages, the auditor may adjust the page breaks based on which information the auditor would like included on the first and second page. See the Kiteworks Instructions for information on how the auditor can access the documents in Kiteworks.  Modified reserve balance schedules are only provided for schools participating in the SNSP if requested.  If you would like a modified reserve balance schedule for a SNSP school, please email the request to dpichoiceauditreports@dpi.wi.gov

The 2019-20 Financial Audit, September 2020 Enrollment Audit, and January 2021 Enrollment Audit certification letters are also available in Kiteworks.

Resources:

2019-20 Financial Audit

The following schedules can be used for schools only participating in the Choice programs.  The schedules for schools participating in the Special Needs Scholarship Program (SNSP) are available in Kiteworks to the auditor on the school's Auditor Authorization form.  See the Kiteworks Instructions for information on how the auditor can access the documents in Kiteworks.  The 2019-20 Enrollment Audit certification letters and 2018-19 Financial Audit certification letters are also available in Kiteworks.

Paycheck Protection Program-Choice/SNSP Reserve Balance Impacts: The department has waived the 2019-20 requirement to include the forgiven portion of the Paycheck Protection Program loan that was used for educational programming purposes as offsetting government assistance revenue in the Choice Programs and SNSP Reserve Balance Schedules. The department does not have waiver authority for the 2020-21 school year, so the department will begin policy discussions as soon as we are able on amending the applicable administrative rules for the 2020-21 school year.

Inclusion of COVID-19 Related Expenses as Eligible Education Expenses: COVID-19 related expenses may be included as eligible education expenses if they meet the requirements in Wis. Stats. 115.7915, 118.60, and 119.23 and Wis. Admin. Code PI 35, 48, and 49, respectively. The requirements are explained in the Financial Audit related bulletins at https://dpi.wi.gov/parental-education-options/choice-programs/bulletins and https://dpi.wi.gov/parental-education-options/special-needs-scholarship. As long as expenses related to the COVID-19 outbreak meet the eligible education expenses requirements, they can be included as an eligible education expense.

Cash and Investment Balance: For the 2019-20 school year, the requirement has been waived that schools have an audited year-end cash and investment balance that is at least as much as the PSCP and SNSP reserve balances combined with certain adjustments. The requirement has also been waived that the school repay the PSCP reserve balance to the DPI if the school does not have the required cash and investment balance in the 2019-20 school year.  Schools will still be required to submit a financial audit for the 2019-20 school year that calculates the school’s June 30 reserve balance(s) and must maintain the required cash and investment balance for future school years.

2018-19 Financial Audit

 

Reserve Balance Schedules with Links Between SNSP & Choice Schedules:

 

Reserve Balance Schedules without Links Between SNSP & Choice Schedules:

Resources:

 


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    For questions about this information, contact Andrea Kratz (608) 267-1291