School Finances & Funding
Financial Transparency for DC Public Charter Schools
DC PCSB is committed to financial transparency across DC’s public charter school sector. This page provides access to financial analysis reports, school budgets, fiscal audits, 990s, per-pupil funding data, at-risk funding reports, and financial monitoring information.
Financial Oversight
We review financial information to see how well schools balance their checkbooks. High-performing schools ensure they have sufficient finances for the year plus any contingencies. In cases of low-rated schools, the Board works closely with a school’s leadership for an improvement plan that ensures solvency.
Additional Supports
- DC Charter School Operations Manual [Produced by FOCUS and EdOps]
- Title I Schools
- Schedule of Contracts Over $25,000 Template
Public Notification: For procurements that are subject to bidding requirements, schools must publish a notice of a request for proposals in the DC Register and two newspapers of general circulation at least seven days prior to the award of the contract.
Bidding Exemptions: Contracts not subject to bid but subject to submission to DC PCSB for review include: lease or mortgage agreements, loan agreements, sole source procurements, procurements through cooperative purchasing agreements, and procurements through the General Services Administration, among others.
Submission Requirements: No more than three days after the award of the contract, the school must submit to DC PCSB the following documents: evidence of the public bidding and notification process, the public Request for proposals, all bids for the contract received by the school and the rationale for the award of the contract. When a contract exceeds $100,000 in value, the school must also submit the vendor contract.
Review Process: DC PCSB consistently reviews the contract submission system and tracks the accuracy, timeliness, and completeness of submissions, notifying schools of errors. In certain cases, DC PCSB may conduct deeper investigation into a particular contract, potentially conducting further research into the contract or vendor, or interviewing the school. If the school indicates that there may be a conflict of interest, DC PCSB reviews the school’s board minutes to determine whether the conflicted party/ies recused themselves from the vendor approval process.
Contract Effective Date: Contracts may not go into effect less than 10 days after the date of submission to DC PCSB.
Direct questions to Aaron Hall at [email protected].
View the list of currently open to bidding contracts here. An Excel spreadsheet summarizing all contract documentation submitted since the April 2018 Board Meeting can be found here and DC PCSB staff reporting to the Board are available below.
Available open Request for Proposals can be found on the DC Register’s website.
The Fiscal Year 19 Budget Support Act requires DC PCSB to submit a report on how each public charter LEA plans to spend at-risk funds for students in grades PK-12. Learn how schools spend the funding below.
Read the 2022-2023 At-Risk Funding Report
Read the 2021-2022 At-Risk Funding Report
Read the 2020-2021 At-Risk Funding Report
This analysis details per-pupil funding for public charter schools.
View the 2026 Funding Analysis
Uniform Per Student Funding Formula (UPSFF) for DC Public Charter Schools
Letters from the Deputy Mayor for Education (DME) and the Office of the State Superintendent of Education (OSSE) describing the annual Uniform Per Student Funding Formula (UPSFF) for public charter schools.
View the 2025 Funding Analysis
View the 2024 Funding Analysis
View the 2023 Funding Analysis
View the 2022 Funding Analysis
View the 2021 Funding Analysis
View the 2020 Funding Analysis
The Financial Monitoring List is the first escalation step taken by DC PCSB to track public charter LEAs that show signs of financial instability. Public charter LEAs are placed on this Monitoring List for a combination of factors like low cash reserves, high debt ratios, or issues with budget management.
Financial Monitoring List & Financial Correction Action Plans
The Financial Monitoring List is DC PCSB’s first step to track public charter local education agencies (more commonly referred to as LEAs) showing financial instability. LEAs are placed on this list for factors such as, but not limited to, low cash reserves, poor cash flow margins, high debt ratios, enrollment decreases, or other financial concerns.
View the list of LEAs on the Financial Monitoring List. If an LEA has been issued a Financial Corrective Action Plan (or FCAP), the plan approved by the board and the date it was approved is linked below and available on the School’s Profile Page on our website.
Navigating Financial Oversight: A School’s Journey on the Financial Monitoring List
The Financial Monitoring List is the first escalation step taken by DC PCSB to track public charter LEAs that show signs of financial instability. Public charter LEAs are placed on this Monitoring List for a combination of factors like low cash reserves, high debt ratios, or issues with budget management.
Citations of Fiscal Concern
The Citations of Fiscal Concern list includes formal citations issued to LEAs for various issues, such as material weaknesses, significant deficiencies, large variances, consistently late submissions, or instances of fraud or theft. The issuance of these citations strengthens LEAs’ accountability, enhances financial oversight, and improves the timeliness and transparency of our monitoring efforts. We monitor the remediation of these fiscal concerns to prevent recurrence, support the school in addressing financial challenges, and promote overall improvement in financial health.
Read our post Navigating Financial Oversight: A School’s Journey on the Financial Monitoring List for more information.
Once a month at our Board meetings, we discuss our financial oversight. The finance memos from these discussions are available for review. While they’re included in the full board meeting materials, you can also view all of them here.
Financial Analysis Reports
Each DC public charter school is required to conduct annually a thorough audit of its finances and operations. Each audit is conducted by a third-party auditor, chosen by the school from a list of auditors approved by DC PCSB, the Office of the Chief Financial Officer, and the Office of the State Superintendent of Education. DC PCSB analyzes and summarizes the information in these audits to produce the Financial Analysis Report – formerly referred to as the Financial Audit Review or study of fiscal audits – as a joint project with all three agencies, that present consistent and transparent information about DC public charter schools’ finances and operations.
Note: Starting in 2026, we will no longer provide FAR technical guides. We will now be releasing “School Financial Oversight Guidance” annually.
| Report Title | Report Description |
|---|---|
| 2025 Financial Analysis Report | DC public charter schools’ aggregated financial results show stable financial results as reflected by the eight financial indicators summarized on page 3 in the 2025 Financial Analysis Report. Of the 68 LEAs operating in FY 2025, 45 LEAs, or 66% of the total LEAs in the sector, met or exceeded the standard for every indicator. |
| 2024 Financial Analysis Report | DC public charter schools’ aggregated financial results continue to show strong financial results as reflected by the eight financial indicators summarized on page 4 in the 2024 Financial Analysis Report. Of the 69 LEAs operating in FY 2024, 48 LEAs, or 70% of the total LEAs in the sector, met or exceeded the standard for every indicator. |
| 2023 Financial Analysis Report | DC public charter schools’ aggregated financial results continue to show strong financial results as reflected by the eight financial indicators summarized on page 3 in the 2023 Financial Analysis Report. Of the 69 LEAs operating in FY 2023, 41 LEAs, or 60% of the total LEAs in the sector, met or exceeded the standard for every indicator. |
| 2022 Financial Analysis Report | DC public charter schools’ aggregated financial results continue to show strong financial results as reflected by the eight key financial indicators summarized on page 3 in the 2022 Financial Analysis Report. Of the 68 LEAs operating in FY 2022, 39 LEAs, or 57% of the total LEAs in the sector, met or exceeded the standard for every indicator. |
| 2021 Financial Analysis Report | DC public charter schools’ aggregated financial results continue to show strong financial results as reflected by the six key financial indicators summarized on page 3 in the 2021 Financial Analysis Report. Of the 66 LEAs operating in FY 2021, 57 LEAs, or 86% of the total LEAs in the Sector, met or exceeded the standard for every indicator. |
| 2020 Financial Analysis Report | DC public charter schools’ aggregated financial results continue to show strong financial results as reflected by the six key financial indicators below. Of the 62 LEAs operating in FY 2020, 50 LEAs, or 81% of the total LEAs in the Sector, met or exceeded the standard for every indicator. |
| 2019 Financial Analysis Report | DC public charter schools’ aggregated financial results continue to show strong financial results, as reflected by the 6 key financial indicators below. Of the 66 charter Local Education Agencies (LEAs) operating in 2018-19, 48 LEAs, or 73% of the total LEAs in the sector, meet or exceed all of these standards. |
| 2018 Financial Analysis Report | This year’s report shows that DC public charter schools’ aggregated financial results continue to show strong financial results, as reflected by the six key financial indicators. Fifty-three schools, or 80% of the total LEAs in the sector, meet or exceed all of these standards. |
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School 990s
The Board makes publicly available every school’s financial information, including school budgets, fiscal audits, and 990s.
View by public charter LEA budgets, fiscal audits, and 990s. (Note, A local education agency (LEA) is an educational institution that exists primarily to operate publicly funded school(s) in the District of Columbia.)
School Budgets
Public charter school budgets outline how funds are allocated, ensuring transparency and accountability in financial management. They provide insights into spending on staff, facilities, and educational programs, helping individuals understand financial priorities and operations. Details are published annually, offering a clear view of each school’s financial planning and resource allocation.
Budgeted and Actual Expenditures and Variance for All LEAs and Campuses in Accordance with Common Financial Reporting Standards (CFRS)
The School Financial Transparency Amendment Act of 2020 (Subtitle (IV)(F) of the Fiscal Year 2021 Budget Support Act of 2020), among other things, requires the Deputy Mayor of Education (DME) to establish common financial reporting standards for public and public charter schools by May 31, 2021.
This reporting initiative is called Common Financial Reporting Standards (CFRS). Per the Code of the District of Columbia, § 38–1802.04.(c)(23), beginning July 29, 2022, and annually thereafter, the Board of Trustees of each public charter school shall prepare and submit to the Public Charter School Board, for each campus under its control, the current school year’s budget and a draft budget for the following school year. Access budgeted and actual versus budget variance financial expenditure reports for all public charter LEAs and campuses at the links below.
School Fiscal Audits
Fiscal audits for public charter schools ensure financial integrity by reviewing expenditures, revenues, and compliance with regulations. These audits provide transparency, build trust among relevant parties, and help maintain accountability in financial management. Detailed audit reports are published, below, annually, offering insights into each school’s financial health and operational efficiency.
Note: FY2025 fiscal audits have been posted.