J OHN S. S. K IM D AVID Y. I GE C HAIRPERSON G OVERNOR S TATE OF H - PDF document

J OHN S. S. K IM D AVID Y. I GE C HAIRPERSON G OVERNOR S TATE OF H AWAII S TATE P UBLIC C HARTER S CHOOL C OMMISSION ( ʻA HA K ULA H O ʻ ĀMANA ) 1111 Bishop Street, Suite 516, Honolulu, Hawaii 96813 Tel: (808) 586-3775 Fax: (808) 586-3776 SUBMITTAL FOR CONSIDERTION AND ACTION DATE OF SUBMITTAL: August 6, 2019 MEETING DATE: August 8, 2019 TO: John Kim, Chairperson State Public Charter School Commission FROM: Sione Thompson, Executive Director State Public Charter School Commission AGENDA ITEM: VI. Presentation/Action on the State Public Charter School Commission’s Operations and Financial Reporting Template I. DESCRIPTION Follow-up presentation from the Finance and Operations team on the proposed template that will be used for quarterly financial reporting to the State Public Charter School Commission (Commission). II. AUTHORITY Legislative appropriations set the maximum limits for operating expenditures. Under Act 99 of 2014 Session Laws of Hawai`i, the Commission’s operating budget is provided as a separate line item referred to as (“EDN 612”). For FY 2017-18, the Legislature appropriated $1.5 million in general funds for the Commission office. At the March 9, 2017 General Business Meeting, the Commission adopted its February 9, 2017 Administration & Operations Committee Report to require staff to provide quarterly financial reports for review beginning in April 2017. 1

III. PRESENTATION At the June 13, 201 Administration & Operations Committee Meeting, the Finance and Operations section reported to the Committee for its approval on the proposed budget for the upcoming fiscal year. Committee members recommended approval of the budget by the Commission as a whole and, during discussion of the budget, provided feedback and suggestions on future financial reporting by Commission staff. Committee members requested that future financial reporting, specifically the quarterly financial reports, contain the following items: • A consolidated profit and loss report, detailing strategic plan implementation; and • A quarterly balance sheet. Finance and Operations staff stated that it would follow up with Commissioners and provide a template for the requested consolidated report to Commissioners in August. 2

EXHIBIT 1 QUARTERLY FINANCIAL REPORTING TEMPLATE 3

Hawaii State Public Charter School Commission Profit and Loss Period Actual Budget Variance Variance % Income State Funding State Funding to SPCSC Total State Funding Expenses 1 . Personnel Services 2. Facility Rental, Office Computer Equipment Furniture and Furnishings Total 3. Operational Reoccuring Expenses Office Telecommunication Services Telephone-Mobile Internet Service Information Technology (IT) Services Monthly and/or Peridodic software Office Supplies Copier Services Payroll Services Other Misc Current Expenses Service Fee Parking Total 4. Functional Expenses Staff Travel and Associated Costs Commissioner travel and assoicated Costs Meeting Costs Staff and Commissioner Technology Equipment Total 5. Consultant/Contractors Programmatic Costs Epicenter Performance Framework Review Audit Services Contracted Services Consulting Professional Services Total Total Expenses Net Income