“Lake Lure Classical Academy has found that both the Students Services Module and the Accounting Module provided by Acadia NorthStar to be an excellent investment.— Mitchel McNeely, Lake Lure Classical Academy”
Fiscal management is defined as the process of keeping an organization running efficiently within its allotted budget. Overall, it is our goal to improve the way each charter school operates by properly planning expenditures, recording all fiscal transactions in a checks-and-balances system that reduces mistakes or omissions that might lead to surprise budget overages and following procedures with effectiveness and efficiency. We use a variety of tools, including budget spreadsheets and accounting software to properly develop a well-designed management plan. After financial transactions are recorded, we reconcile on a regular bases, usually monthly, to help our fiscal management identify any discrepancies between the financial records and the available remaining budget. Without a proper and regular reconciliation, a small error in recording financial transactions can become a large deficit over time that may create serious budget shortfalls. Fiscal planning is done annually.
Our comprehensive fiscal management services enable school administrators and boards of directors to plan for the future and make financial decisions. We work hand-in-hand with your school by maintaining payroll, accounts payable and an operating budget in the state-approved ISIS software. We constantly monitor for discrepancies through monthly bank reconciliations and internal budget reviews. When we recognize a potential problem, we notify you immediately and assist with developing strategic adjustments. In addition, we ensure your state reporting is submitted in a timely and organized manner. Our goal is to assist our clients in making them successful today and tomorrow.
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