MANARA ACADEMY NOV. 16 TH, 2013 2013 Annual Financial Report 1 2013 Annual Financial Management...
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MANARA ACADEMYNOV. 16 T H , 2013
2013 Annual Financial Report
2013 Annual Financial Management Report
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Outline
2013 Annual Financial Report
- What is School FIRST?- 2011 School FIRST- 2012 School FIRST- 2013 School FIRST- Conclusion
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School FIRST/Charter FIRST
2013 Annual Financial Report
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Financial Integrity Rating System of TexasAdopted in Dec. 2007 for School DistrictsImpacts school accreditation.May impact the special education
determination statusIs a group of accountability indicators to test
againstFIRST Rating on TEA’s website.
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2011 Charter FIRST
2013 Annual Financial Report
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3 financial accountability indicators onlySource of data is the 2009-2010 annual
financial audit3 possible Ratings:
Standard Achievement Substandard Achievement Suspended-Data Quality (affects accreditation for the
year 11-12)Must receive a “Yes” on all 3 indicators to
achieve “Standard Achievement” rating.Our district received a “Standard Achievement”
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2012 Charter FIRST
2013 Annual Financial Report
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Add the financial solvency provisionsAdd PEIMS Standard data provisions21 indicators (just like school districts)-
changed later to 19 indicatorsPossible ratings would be:
Superior Achievement Above Standard Achievement Standard Achievement Substandard Achievement Suspended-Data Quality
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2013 Charter FIRST
2013 Annual Financial Report
Manara Academy6
Superior AchievementInvestment Indicator, Indicator # 19:
An investment Plan Could still be challenging given the size of the charter
and Investment Atmosphere/opportunities
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Rating for Manara Academy
2013 Annual Financial Report
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2013 Ratings for Charter SchoolsSelect 2012-2013 from the dropdownClick the district number to display indicatorsPassed the first 6 indicatorsReceived highest scores (5 out of 5) for
indicators 7 to 18.Could not meet indicator # 19 (Investment
Earnings) – TEA is reconsidering this indicator.
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Compensations and Gifts
2013 Annual Financial Report
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Reported compensations & reimbursements to the Superintendent & Board of Trustees members for the 2011-2012 year.
Reported gifts received from external entities (by superintendent or charter holder) – none.
Superintendent
Board President
Board V. President
Board Member 1
Board Member 2
Board Member 3
Board Member4
$40,000 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
* The amount forms 50% of contract total as the person is split between the Superintendent and the Principal two roles.
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Financial Solvency Inputs
2013 Annual Financial Report
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Annual total expenditures from General Operating fund.
Capital outlaysDefault on borrowed fundsWhether the Charter declared bankruptcy
within the last 2 yearsStaff to WADA ratioNumber of superintendents and business
managers in the last 3 years.
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Conclusion
2013 Annual Financial Report
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Superior Achievement for Manara Academy for the 3rd year in a row.
Noticeably Improved financial performance for 2011-2012 relative to previous year (2010-2011).
No corrective actions required.Expect further improvement and similar results
for next year.Investing School funds - numerous factors come
to play….Heading the right way and is more prepared for
growth and expansion.
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Questions
2013 Annual Financial Report
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?!Manara AcademyBusiness Office(972) 905 3827
4200 Royal Lane, Suite # 175Irving, TX 75063