DC PCSB has adopted a new financial oversight policy in September 2026. With the adoption of this policy, DC PCSB will be following this timeline to transition from the Key Financial Indicators (KFIs) referenced in the FY 2026 FAR Technical Guide to the KFIs referenced in the DC PCSB School Oversight Guidance for FY 2027.
The School Reform Act (SRA) requires that DC PCSB revoke the charter of any public charter school that (1) has engaged in a pattern of nonadherence to generally accepted accounting principles (GAAP); (2) has engaged in a pattern of fiscal mismanagement; and/or (3) is no longer economically viable. Further, each DC public charter school is required to conduct annually a thorough audit of its finances and operations. Schools must choose a third-party auditor from a list of auditors approved by DC PCSB, the Office of the Chief Financial Officer (OCFO), and the Office of the State Superintendent of Education (OSSE). DC PCSB, with support and counsel from OCFO and OSSE, analyzes and summarizes the information in these audits to produce the Financial Analysis Report (FAR), which presents consistent and transparent information about DC public charter schools’ finances and operations.