Section 35.14. First time participant financial requirements.

 

(1)   May 1 requirements. By May 1 of the school year immediately preceding the first school year in which a first time participant school intends to participate in the choice program, a first time participant school shall participate in a fiscal management training program approved by the department and submit to the department all of the following:

(a) A budget and cash flow report, on a form provided by the department, for the following school year that contains all of the following:

1. Anticipated enrollments for all pupils enrolled in the school.

2. Anticipated enrollments for choice program pupils.

3. Estimated total revenues and costs.

4. Estimated amounts required under s. PI 35.10 (3) (a) .

5. A schedule of anticipated beginning and ending net assets.

6. A schedule of monthly cash flows.

7. The contingent funding sources the school will use if actual enrollments are less than expected and evidence of the availability of the funding sources.

8. A statement of whether the school has any past due amounts, interest, or penalties due to the U.S. internal revenue service, the Wisconsin department of workforce development, or the Wisconsin department of revenue. An amount must be disclosed even if it is in dispute. If a school has past due amounts, interest, or penalties due to a government entity, the school shall do all of the following:

a. Disclose to the department the outstanding amount owed.

b. Submit to the department statements or other correspondence from the government entity stating the amount the government entity claims is due, the amount in dispute, and nature of the amount due.

(b) Examples of each type of written document used to satisfy the requirements under s. PI 35.13 (4) (a) .

(c) A schedule of the pay dates for the school.

(2)   Updated budgets. By November 1 of a first time participant's first year of participation, a first time participant school shall revise and submit to the department the information required in sub. (1) to reflect the school's actual third Friday in September enrollments and any related changes in revenues, costs, and monthly cash flow requirements.

CR 16-004 : cr. Register July 2016 No. 727 , eff. 8-1-16.

Note

A budget and cash flow report form may be obtained at no charge from the Wisconsin department of public instruction's webpage at http://dpi.wi.gov/sms/choice-programs . Microsoft Windows NT 6.1.7601 Service Pack 1